Texas DIR/ESBD #240L

Texas Seeks Turnkey Investment Management Services for TexPool and TexPool Prime

This opportunity involves the Texas Comptroller of Public Accounts seeking a qualified provider for comprehensive investment management and related services for two major local government investment pools, TexPool and TexPool Prime. - Government Buyer: - Texas Comptroller of Public Accounts, on behalf of the Texas Treasury Safekeeping Trust Company - Scope of Services: - Turnkey investment management for TexPool (approx. $39.7B in assets, 2,990 participants) and TexPool Prime (approx. $18.7B in assets, 738 participants) - Portfolio management, cash management, custody, fund accounting, financial and performance reporting - Participant services: enrollment, customer service, account access, transaction processing, reporting, outreach, and marketing - Information technology: hosting and maintaining the TexPool public website and TexConnect Online portal (with mobile access and technical support) - Education and training: online and in-person programs for participants, including compliance with Texas regulations - Transition services: ensuring smooth transition between incumbent and successor providers - Notable Requirements: - Provider must deliver all services as a turnkey solution - Compliance with Texas state regulations, including PFIA and State Board of Public Accountancy requirements - Current provider is Federated Hermes, Inc.; contract expires at the end of the year prior to new term - No specific OEMs or technology vendors are named; focus is on financial and IT service capabilities - Estimated assets under management exceed $58 billion across both pools

Description

The Texas Comptroller of Public Accounts, on behalf of the Texas Treasury Safekeeping Trust Company, is soliciting proposals from qualified, independent persons or entities to provide turnkey investment management and related services for two Texas local government investment pools, TexPool and TexPool Prime. The services are detailed in the Request for Proposals No. 240L. The procurement is managed through the Texas SmartBuy portal, with a response deadline of September 2, 2026. The contract is anticipated to commence on January 1, 2027.

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