• Florida's Citizens Property Insurance Issues Invitiation to Negotiate for Investment Manager Services; Vendor Questions Due September 13
  • September 6, 2013
  • Law Firm: Colodny Fass Talenfeld Karlinsky Abate Webb P.A. - Fort Lauderdale Office
  • Florida's Citizens Property Insurance Corporation ("Citizens") issued an Invitation to Negotiate ("ITN") for Investment Manager services yesterday, September 4, 2013.  The vendor ultimately selected would be responsible for managing a portion of Citizens' taxable and/or tax-exempt assets.

    The would-be Investment Managers also will be responsible for managing Citizens' taxable fixed income portfolios and/or tax-exempt fixed income portfolios in accordance with the State-run insurer's investment policies.  Responses are sought from registered investment advisors who meet Securities and Exchange Commission standards.  Interested and qualified vendors may submit a response for managing taxable funds, tax-exempt funds or both.

    The prioritized investment objectives are safety, protection and preservation of principal, and liquidity and competitive yields.

    Questions about the ITN from vendors are due by September 13.

    Following is a list of important dates relating to the ITN:

    CALENDAR OF EVENTS

     

    DATE:

    TIME:

    ACTIONS:

    September 4, 2013

     

    Solicitation Posted

    September 13, 2013

        5:00 PM ET

    Questions Due

    September 20, 2013

     

    Answers Posted

    October 2, 2013

    2:00 PM ET

    Responses Due

    October 3-October 31, 2013

     

    Review/Evaluation of Responses

    November 7, 2013 (Anticipated)

     

    Public Meeting for Evaluation Team to Determine Which Vendors to shortlist for Phase #1 of Presentations/Negotiations

    November 14-November 21, 2013

     

    Phase #1-Presentations/Negotiations

    December 5, 2013

     

    Public Meeting for Negotiation Team to Determine Which Vendors to shortlist for Phase #2 of Presentations/Negotiations

    December 11-16, 2013

     

    Phase #2-Presentations/Negotiations

    December 19, 2013

    (Anticipated)

     

    Public Meeting for Negotiation Team to Make Best Value Determinations