Connecticut retirement fund sends out RFP
24 September 2012 Connecticut
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The Connecticut Retirement Plans and Trust Funds, which is comprised of 14 retirement plans and trust funds, sent out an RFP for the provision of trust/custody and/or securities lending services.
To become the securities lending provider, respondents must have at least $1 billion in total market capitalisation as of 31 December 2011, a minimum of 5 years’ experience in providing securities lending on an agency, principal or blended basis, and at least $100 billion in securities lending lendable base for each of the last five years.
State treasurer Denise Nappier, who is the principal fiduciary of the $24.3 billion pension system, sent out the RFP, asking each candidate to submit proposals to her office by 12 October.
The RFP didn't specify a timetable for selection.
To become the securities lending provider, respondents must have at least $1 billion in total market capitalisation as of 31 December 2011, a minimum of 5 years’ experience in providing securities lending on an agency, principal or blended basis, and at least $100 billion in securities lending lendable base for each of the last five years.
State treasurer Denise Nappier, who is the principal fiduciary of the $24.3 billion pension system, sent out the RFP, asking each candidate to submit proposals to her office by 12 October.
The RFP didn't specify a timetable for selection.
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