Newark Charter School Civicplus #RFP 26-03

City of Newark, Delaware seeks combined investment management and custodial services for pension and OPEB assets

The City of Newark, Delaware is seeking a single provider for both investment management and custodial services for its Employee Pension Fund and Other Post-Employment Benefits (OPEB) Trust. - Government Buyer: - City of Newark, Delaware (Purchasing Division, Administration and Finance Department) - Scope of Services: - Combined investment management and custodial services contract - Services must cover both the Employee Pension Fund and OPEB Trust - Proposals addressing only one service area will not be considered - Key Service Requirements: - Investment management: portfolio management, compliance monitoring, performance reporting, asset allocation recommendations, transaction execution, and attendance at semi-annual Pension Committee meetings - Custodial services: master custody, safekeeping, clearing, securities processing, cash management, accounting, tailored reporting, audit procedures, insurance coverage, and transition planning - Demonstrated experience with governmental clients and fiduciary standards required - Competitive pricing and robust confidentiality policies - Submission Details: - 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 - Contract Term: - Initial five-year term starting January 1, 2027, with up to three one-year renewal options (potential total of eight years) - No specific OEMs or product part numbers are referenced, as this is a professional services procurement.

Description

The City of Newark, Delaware 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 submitted via email 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 to Propose by September 30, 2026, and all questions must be submitted by October 23, 2026.

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