About this opportunity
AI summaryThe City of Cheyenne requires a qualified investment adviser to actively manage an investment portfolio of up to approximately $100 million. The contractor must hold SEC registration, carry at least five years of public sector investment management experience, and demonstrate expertise handling diversified portfolios encompassing both fixed-income and equity investments. Scope duties include managing liquid and longer-term portfolios, maintaining statutory compliance, delivering monthly and quarterly reporting, and attending at least one City Investment Committee meeting annually. Firms must divide submissions into separate technical and price proposal PDF files and upload them through the City's OpenGov e-procurement platform by 3:00 p.m. on January 8, 2027. Bidders must submit questions no later than December 11, 2026. A selection committee will evaluate offers using a weighted scoring system based on qualifications, experience, and cost to determine the best overall value.
Buyer and opportunity details
- Client
- City Treasurer’s Office, City of Cheyenne, Wyoming
- Solicitation No.
- 2-27
Scope of work
- Actively manage an investment portfolio of up to approximately $100 million
- Assist with periodic review of Investment Policy Statement and Portfolio Guidelines
- Review present investment management procedures and documentation and propose improvements
- Develop and implement investment strategies within policy parameters and cash flow needs
- Make presentations to City Investment Committees to support strategy recommendations
- Manage the portfolio under non-discretionary or approved discretionary authority
- Provide detailed monthly reports, quarterly performance reports, and annual committee presentations
- Continuously monitor credit quality of holdings and assist with cash flow forecasting
How proposals are evaluated
| Criterion | Weight / scoring |
|---|---|
| Experience with Public Sector Clients of similar size and structure | 20 |
| Qualifications of investment team | 20 |
| Investment philosophy and portfolio management approach | 20 |
| Reporting capabilities and technology | 10 |
| Wyoming Public Funds Knowledge and Responsiveness | 5 |
| References | 5 |
| Proposal Quality | 10 |
| Cost | 10 |
Minimum qualifications
- Minimum of five years of experience managing public sector investment portfolios
- Assigned account manager with a minimum of five years of experience in investment management
- Demonstrated familiarity with all applicable Wyoming statutes regarding qualified investments for public entities
- Adherence to the CFA Institute Code of Ethics and Standards of Professional Conduct
- Registered with the SEC as an investment adviser
- Compliance with notice filing and registration requirements of the Wyoming Secretary of State
- Independent of financial institutions/brokerage firms or full continuous disclosure of relationships and fees
- Proof of bonding up to $5,000,000
Documents to include with your response
- Technical Proposal
- Price Proposal
- Copies of firm's current Form ADV Parts 1 and 2
- Documentation demonstrating compliance with Wyoming notice filing and registration requirements
- Audited financial statements for the past three years
- Proof of bonding up to $5,000,000
- Samples of standard reports
- At least five references from governmental clients of similar size and complexity
- Complete fee schedule
Key dates
- Proposal Statements due (Page 1)
- Friday, November 13, 2026 3:00 PM
- Request for Proposal Issued
- October 30, 2026
- 1st Legal Advertisement
- November 4, 2026
- 2nd Legal Advertisement
- November 11, 2026
- Question Submission Deadline
- December 11, 2026
- Addendum Response Deadline
- December 17, 2026
- Due Date for Proposals
- January 8, 2027 3:00 pm MST
- City Review of Submitted Proposals, and Potential Firm Interviews
- January 9 – January 20, 2027
- Professional Services Agreement finalized with successful Firm
- January 21 – January 25, 2027
- Investment Advisory Committee Reviews Recommended Firm
- January 26, 2027
How to submit
- Method
- Electronic via the OpenGov e-procurement portal
- Instructions
- Upload one Technical Proposal in PDF format and one Price Proposal in PDF format simultaneously via OpenGov; merge each into a single PDF file
Contract details
- Term
- Initial term of 4 years, with 2 possible one-year extensions
- Insurance and bonding
- Proof of bonding up to $5,000,000; selected adviser shall provide a Certificate of Insurance in accordance with the professional services agreement