Investment Management Services

The Hillsborough Transit Authority in Florida is seeking active fixed-income portfolio management services to manage its investment assets. The agency requires a partner to handle portfolio construction, security selection, duration management, liquidity management, cash flow coordination, credit monitoring, sector allocation, and ongoing portfolio monitoring. Through this initiative, the agency aims to secure professional oversight that ensures preservation of principal, meets public fund liquidity requirements, and establishes structured laddered maturities. The scope of work requires the development of a simulated portfolio for approximately $1.5 billion structured in accordance with agency guidelines and public fund liquidity requirements. This simulated portfolio must detail sector allocations, credit quality distribution, weighted average maturity, weighted average duration, yield assumptions, liquidity allocations, cash flow assumptions, and risk considerations. Additionally, the selected partner must provide comprehensive monthly, quarterly, and annual reporting covering market values, book values, policy compliance, economic outlooks, and performance analyses. Bidders must demonstrate robust internal compliance structures, trade authorization controls, portfolio compliance monitoring, exception reporting procedures, and best execution practices. The agency also requires detailed descriptions of the bidder's credit review process, business continuity and disaster recovery capabilities, cybersecurity controls, and internal audit procedures. To be eligible for evaluation, bidders must perform all work offsite and must be located onshore within the United States. The agency is establishing a contract period of one year for these services. While the agency has not disclosed a specific budget and is looking for proposals to define the cost structure, it will evaluate submissions based on the described investment philosophies, risk management frameworks, and simulated portfolio structures. Bidders must submit all questions regarding this opportunity no later than June 23, 2026.