New York City Comptroller Office Plans Investment Management Contract Extension
In accordance with Section 3-04(b)(2)(iii) of the New York City Procurement Policy Board Rules, the New York City Comptroller Office (the Comptroller s Office ), acting on behalf of the New York City Retirement Systems, intends to enter into a Negotiated Acquisition Extension with LM Capital Group, LLC, for five years,…
Source ID: us-nyc-city-record-procurement-comptroller-20250401001
Scope overview
In accordance with Section 3-04(b)(2)(iii) of the New York City Procurement Policy Board Rules, the New York City Comptroller Office (the Comptroller s Office ), acting on behalf of the New York City Retirement Systems, intends to enter into a Negotiated Acquisition Extension with LM Capital Group, LLC, for five years, from April 1, 2025 to March 31, 2030, for Developing Manager Fixed Income Investment Management Agreement.
T he vendor is a fiduciary and will continue to provide Developing Manager Fixed Income Investment Management services. Without this contract in place the lack of services would present a risk to the overall portfolio management and operation of the pension systems. Pursuant to PPB Rule § 3-01(d)(3) and (4), the ACCO has determined that it is in the best interest to process a negotiated acquisition extension.
This notice is for informational purposes only. Vendors that are interested in expressing interest in similar procurements in the future may contact Sherry Williams-Nisbett via email at swillia@comptroller.nyc.gov. Agency: Comptroller Status: Intent to Award
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New York City Comptroller Office Plans Investment Management Contract Extension
The New York City Comptroller Office intends to extend its investment management agreement with Pugh Capital Management for Core Plus Fixed Income services. The five-year extension from April 2025 to March 2030 aims to maintain portfolio management continuity for the city's retirement systems. This negotiated acquisition is deemed necessary to prevent operational risks to the pension systems.
New York City Comptroller Office Plans Investment Management Contract Extension
The New York City Comptroller Office intends to extend its investment management agreement with Pugh Capital Management for Core Plus Fixed Income services for five years. This extension is deemed necessary to maintain portfolio management and avoid operational risks to the city's pension systems. The negotiated acquisition is being processed as it is determined to be in the best interest of the retirement systems.
New York City Comptroller Office Plans Investment Management Contract Extension
The New York City Comptroller Office intends to extend a fixed income investment management agreement with LM Capital Group, LLC for five years. The extension is necessary to maintain portfolio management services for the city's retirement systems and avoid operational risks. This negotiated acquisition is being processed as it serves the best interest of the pension systems.
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