Newark Civicplus #26-03

Combined Investment Management and Custodial Services for Pension and OPEB Assets

The City of Newark, Delaware is seeking proposals for a combined investment management and custodial services contract for its Employee Pension Fund and Other Post-Employment Benefits (OPEB) Trust. - Government Buyer: - City of Newark, Delaware - Administration and Finance Department, Purchasing Division - Services Requested: - Investment management for pension and OPEB assets - Includes portfolio management, compliance monitoring, performance reporting, asset allocation recommendations, and investment transaction execution - Requires attendance at semi-annual Pension Committee meetings - Master custody services for pension and OPEB accounts - Includes safekeeping, clearing, securities processing, cash management, accounting, tailored reporting, audit procedures, insurance coverage, and transition planning - Must demonstrate experience with master trusts and confidentiality policies - Proposal Requirements: - Firms must submit proposals covering both investment management and custodial services; partial proposals will be rejected - Proposals must be submitted via email in PDF format (max 25 MB) - Non-binding Notice of Intent to Propose requested - All questions to be submitted in bulk via email - Notable Requirements: - Firms must have demonstrated governmental experience and adhere to fiduciary standards - Competitive pricing and tailored reporting are emphasized - Transition planning and insurance coverage are required - No specific OEMs or vendors are named; opportunity is open to qualified financial service providers

Description

The City of Newark is soliciting proposals for combined investment management and custodial services for the Employee Pension Fund and Other Post-Employment Benefits (OPEB) Trust. Proposals must cover both service areas; submissions for only one will not be considered. Proposals should be emailed in PDF format to the City Purchasing Division by 2:00 p.m. on November 3, 2026. Prospective respondents are requested to submit a non-binding Notice of Intent by September 30, 2026, and all questions must be submitted by October 23, 2026.

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