Fort Lewis College is looking to hire an investment manager as the college prepares to begin controlling its own investments for the first time in the institution’s history.
In 2013, the Colorado Legislature granted investment authority to FLC. Previously, any investments for the college were handled by the Colorado Department of the Treasury.
“With the opportunity to guide its own investments, the college will have more freedom to tailor its investment strategy to the goals of the institution,” FLC spokesman Mitch Davis said in a news release issued Wednesday.
“As the future of higher education funding remains unsettled, it is becoming increasingly important for colleges and universities to take a more active role in their financial sustainability. The chance to handle their own investing also gives institutions more opportunity to support their local communities and regions, as well as develop their own philosophies for investing.”
FLC anticipates having an investment manager chosen by Aug. 30 and to begin investing by Oct. 1.
The investment manager must be a bank, insurance company, investment-management company or investment adviser as defined by the Registered Investment Advisors Act of 1940. A request for proposals can be found at www.fortlewis.edu/purchasing/OpportunitiestoBid.aspx.
Last year, a student group called FLC Divest Now asked the college’s Foundation board to pull out of investments in coal, oil and natural gas. The board declined. The Foundation had about $150,000 invested in fossil fuels as part of its $17.2 million portfolio.
Student groups around the country have pressured their colleges and universities to divest from fossil fuels as a way to encourage action on climate change. Last month, Syracuse University’s endowment became the largest yet to agree to divest, NPR reported.
cslothower@durangoherald.com
