ITN2025-15NCSA Fixed Income Investment Management Services

SUBMIT OFFER TO:
Via Bonfire Web Portal University of Central Florida
UNIVERSITY OF CENTRAL FLORIDA
www.procurement.ucf.edu
INVITATION TO NEGOTIATE
https://ucfprocurement.bonfirehub.com/opportunities/241473
Contractual Services
Your submission must be uploaded, submitted, and
finalized prior to the closing time on July 24, 2026 at 3:00
Acknowledgement Form
P.M. ET. We strongly recommend that you give yourself
sufficient time and at least ONE (1) day before the closing
time to begin the uploading process and to finalize your
submission. See Appendix IV for submittal instructions.
Page 1 of 40 Pages OFFERS WILL BE OPENED July 24, 2026 at 3:00 p.m. ET ITN NO. 2025-15NCSA
and may not be withdrawn within 120 days after such date and time.
UNIVERSITY ADVERTISING DATE: ITN TITLE: Fixed Income Investment Management Services
June 22, 2026
FEDERAL EMPLOYER IDENTIFICATION NUMBER
SUPPLIER NAME REASON FOR NO OFFER:
SUPPLIER MAILING ADDRESS
CITY - STATE - ZIP CODE
P OS T I NG OF P R O P OS AL
T A B U LA T I ON S
AREA CODE TELEPHONE NUMBER Proposal tabulations with intended award(s) will be
posted for review by interested parties on the
Procurement Services solicitation webpage and
will remain posted for a period of 72 hours. Failure
FAX:
to file a protest in accordance with BOG regulation
18.002 or failure to post the bond or other security
EMAIL:
in accordance with BOG regulation 18.003 shall
constitute a waiver of protest proceedings.
I certify that this offer is made without prior understanding, agreement, or connection with any corporation, firm or person submitting an offer
for the same materials, supplies, or equipment and is in all respects fair and without collusion or fraud. I agree to abide by all conditions of
this offer and certify that I am authorized to sign this offer for the Supplier and that the Supplier is in compliance with all requirements of the
Invitation To Negotiate, including but not limited to, certification requirements. In submitting an offer to an agency for the State of Florida, the
Supplier offers and agrees that if the offer is accepted, the Supplier will convey, sell, assign or transfer to the State of Florida all rights, title
and interest in and to all causes of action it may now or hereafter acquire under the Anti-trust laws of the United States and the State of
Florida for price fixing relating to the particular commodities or services purchased or acquired by the state of Florida. At the State's discretion,
such assignment shall be made and become effective at the time the procurement agency tenders final payment to the Supplier.
GENERAL CONDITIONS
1. SEALED OFFERS: All offer sheets and this form must be executed and
submitted as specified in Section 2.6. Offer prices not submitted on any
attached price sheets when required shall be rejected. All offers are subject
to the terms and conditions specified herein. Those which do not comply with
these terms and conditions are either automatically rejected with respect to
non-compliance with non-negotiable terms and conditions or may be AUTHORIZED SIGNATURE (MANUAL)
rejected, at UCF's sole discretion, with respect to any other terms and
conditions.
2. EXECUTION OF OFFERS: Offers must contain a manual signature of
AUTHORIZED NAME (TYPED)
the representative authorized to legally bind the Respondent to the
provisions herein. Offers must be typed or printed in ink. Use of erasable ink
is not permitted. All corrections to prices made by the Supplier are to be
initialed. TITLE
3. NO OFFER SUBMITTED: If not submitting an offer, respond by
returning only this offer acknowledgment form, marking it "NO OFFER," and
explaining the reason in the space provided above. Failure to respond CONTACT NUMBER
without justification may be cause for removal of the company's name from
the solicitation mailing list. NOTE: To qualify as a respondent, the Supplier
must submit a "NO OFFER" and it must be received no later than the stated
offer opening date and hour.

4. PRICES, TERMS AND PAYMENT: Firm prices shall be negotiated and
include all services rendered to the purchaser.
(a) TAXES: The State of Florida is a tax-immune sovereign and exempt from
Invitation to Negotiate Acknowledgment Form (revised 4/7/25)
the payment of all sales, use and excise taxes
(b) DISCOUNTS: Cash discount for prompt payment shall not be considered
in determining the lowest net cost for offer evaluation purposes.
(c) MISTAKES: Proposers are expected to examine the conditions, scope of
work, offer prices, extensions, and all instructions pertaining to the services
involved. Failure to do so will be at the Proposer's risk.
(d) INVOICING AND PAYMENT: All Suppliers must have on file a properly
executed W-9 form with their Federal Employer Identification Number prior to
payment processing.
Suppliers shall submit properly certified original invoices to:
kNEXT
3544 Perseus Loop #160975
Orlando, Florida 32816
Invoices for payment shall be submitted in sufficient detail for a proper pre-audit
and post audit. Prices on the invoices shall be in accordance with the price
stipulated in the contract at the time the order is placed. Invoices shall reference
the applicable contract and/or purchase order numbers. Invoices for any travel
expenses shall be submitted in accordance with the State of Florida travel rates
at or below those specified in Section 112.061, Florida Statutes and applicable
UCF policies.
Final payment shall not be made until after the contract is complete unless the
University has agreed otherwise.
Interest Penalties: Supplier interest penalty payment requests will be reviewed
by the UCF vendor ombudsman whose decision will be final.
Vendor Ombudsman: A vendor ombudsman position has been established
within the UCF Division of Finance. It is the duty of this individual to act as an
advocate for Suppliers who may be experiencing problems in obtaining timely
payments(s) from the University of Central Florida. The vendor ombudsman can
be contacted at (407) 882-1082 or by mail at the address in paragraph 4(d)
above.
The ombudsman shall review the circumstances surrounding non-payment to
determine if an interest payment is due, the amount of the payment; and shall
ensure timely processing and submission of the payment request in accordance
with University policy.
5. The Board of Trustees may not request documentation of or consider a
vendor's social, political, or ideological interests when determining if the vendor
is a responsible vendor. Additionally, the Board of Trustees may not give
preference to a vendor based on vendor's social, political, or ideological interests.

UNIVERSITY OF CENTRAL FLORIDA
INVITATION TO NEGOTIATE (ITN) NUMBER 2025-15NCSA
FOR
Fixed Income Investment Management Services

TABLE OF CONTENTS
1.0 INTRODUCTION
1.1 Statement of Objective......................................................
1.2 Contract Award...............................................................
1.3 UCF Environment............................................................
2.0 GENERAL CONDITIONS
2.1 Authorized UCF Representative/Public Notices/UCF Discretion....
2.2 Approximate Calendar of Events..........................................
2.3 Respondent Communications and/or Inquiries..........................
2.4 Respondent Conference and Site Visit..................................
2.5 Written Addenda.............................................................
2.6 Offer Due/Proposal Opening Date.......................................
2.7 Section Not Used............................................................
2.8 Evaluation Criteria and Selection Process...............................
2.9 Posting of Recommended Selection.......................................
2.10 Offer Validity Period........................................................
2.11 Disposition of Offers/Florida Public Records Law Compliance.......
2.12 Economy of Presentation...................................................
2.13 Restricted Discussions/Submissions.......................................
2.14 Verbal Instructions Procedure.............................................
2.15 State Licensing Requirements.............................................
2.16 Parking........................................................................
2.17 Definitions.....................................................................
2.18 Procurement Rules...........................................................
2.19 Force Majeure................................................................
2.20 Limitation of Remedies, Indemnification, and Insurance.............
2.21 Term of Contract............................................................
2.22 Cancellation/Termination of Contract............................................
2.23 Assignment and Amendment of Contract................................
2.24 Independent Parties..........................................................
2.25 Performance Investigations................................................
2.26 Records........................................................................
2.27 Public Records...............................................................
2.28 Public Records, Service Contracts, Compliance 119.0701, FS
2.29 Severability...................................................................
2.30 Notices........................................................................
2.31 Governing Law and Venue.................................................
2.32 Liaison........................................................................
2.33 Subcontracts..................................................................
2.34 Employment of UCF Personnel............................................
2.35 Conflict of Interest...........................................................
2.36 Equal Opportunity Statement..............................................
2.37 Waiver of Rights and Breaches............................................
2.38 Headings Not Controlling...................................................
2.39 Employee Involvement/Covenant Against Contingent Fees..........
2.40 Employment of Aliens......................................................
2.41 Site Rules and Regulations.................................................
2.42 Travel Expenses..............................................................

2.43 Annual Appropriations......................................................
2.44 Taxes...........................................................................
2.45 Contractual Precedence.....................................................
2.46 Use of Contract by Other Government Agencies........................
2.47 Public Entity Crimes.........................................................
2.48 Work for Hire................................................................
2.49 Export Control...............................................................
2.50 Nonnegotiable Conditions and Requirements...........................
2.51 Revised Quantities...........................................................
2.52 Family Educational Rights and Privacy Act ..............................
2.53 Smoke Free Policy...........................................................
2.54 UCF Policies .................................................................
2.55 Contact with Minor Children............................................. .
2.56 Reporting of Child Abuse..................................................
2.57 Secure Handling of UCF Data.............................................
2.58 Employee Background Checks............................................
2.59 E-Verify.....................................................................
3.0 REQUIRED OFFER FORMAT
3.1 Introduction...................................................................
3.2 Minimum Qualifications and Required Documentation................
3.3 Respondent/Offer Sections..................................................
4.0 OTHER REQUIREMENTS .............................................
APPENDIX I TERMS AND CONDITIONS
APPENDIX II COMPLIANCE AND CERTIFICATION OF GOOD STANDING
APPENDIX III REQUIRED ATTACHMENTS AND SAMPLE MATERIALS CHECKLIST
APPENDIX IV EUNA (BONFIRE) SUBMISSION INSTRUCTIONS FOR SUPPLIERS

1.0 INTRODUCTION
1.1 Statement of Objective
The objective of this Invitation to Negotiate (ITN) is to enable the University of Central Florida
(UCF) to enter into agreements with qualified and experienced investment management firms to
provide high-quality fixed income investment management services for designated University
investment portfolios.
Selected firms will provide fixed income investment management services for separately
managed mandates within the fixed income portions of UCF Operating Pools II, III, and IV. The
selected Investment Managers will manage these assets in accordance with the UCF Investment
Policy Manual, the Operating Funds Supplement, the applicable Operating Pool subsection, any
manager specific addendum or investment management agreement, applicable Florida Statutes
governing public funds, UCF Board of Trustees directives, and UCF's established risk, liquidity,
and return objectives. UCF may allocate fixed income assets among selected managers at its
discretion based on performance, risk characteristics, portfolio needs, and the University's
overall investment strategy.
The Successful Respondent, if any, will enter into a contract with UCF that provides for the
performance of all terms and conditions set forth in this ITN, unless UCF has agreed to accept
or negotiate certain terms and conditions, as described in Section 2.3. Non-negotiable terms
and conditions (as indicated in Appendix I) must always be performed by the Respondent.
1.2 Contract Award
UCF intends to award a contract or contracts resulting from this solicitation to the responsible
Respondent(s) whose offer(s) represent the best interest to UCF, after evaluation in accordance
with the criteria in this solicitation. The Contract will include this solicitation document and the
Successful Respondent's proposal and all the terms and conditions found in any resulting
contract. A sample of UCF's standard terms and conditions can be viewed at
https://procurement.ucf.edu. The Contract will also incorporate any clarifications and, if
negotiations are conducted, any additional terms and conditions that are negotiated.
A. UCF may reject any or all offers if such action is in UCF's best interest.
B. UCF reserves the right and sole discretion to reject any offer at any time on grounds that
include, but are not limited to, the Respondent's offer being found to be non-responsive,
incomplete, or irregular in any way, or when the Respondent's offer is not in UCF's best
interest.
C. UCF may waive informalities and minor irregularities in offers received.
D. UCF reserves the right to award a contract without negotiations. Therefore, the Respondent's
initial offer should contain the best terms from a cost or price and technical standpoint.
E. UCF reserves the right to conduct negotiations with the proposer(s) whose offer may be
deemed in the best interest of the University.
F. UCF reserves the right to make an award on any item for a quantity less than the quantity
offered, at the unit cost or prices offered, unless the Respondent specifies otherwise in the
offer.
G. UCF reserves the right to make multiple awards if, after considering the additional
administrative costs, it is in UCF's best interest to do so.
H. UCF is not obligated to make an award under or as a result of this solicitation.
1.3 UCF Environment
The University of Central Florida (UCF) is one of the largest universities in the United States,

with more than 70,000 students enrolled as of Fall 2025, including 60,085 undergraduate
students, 10,120 graduate students, and 471 medical students. Founded in 1963 to provide
talent for Central Florida and the growing U.S. Space program, UCF has been making an impact
on the state, the nation - and outer space - ever since. With 13 colleges, including a fully
accredited College of Medicine, UCF offers more than 240 degree programs across a wide range
of disciplines. The University operates multiple campuses, including the main campus in east
Orlando, the Downtown Orlando campus, the Rosen College of Hospitality Management
campus, the Academic Health Sciences Campus in Lake Nona, and 11 UCF Connect centers
located throughout Central Florida. UCF's fully online programs include online bachelor's
degrees, master's degrees, doctoral programs, graduate certificates, and professional
certificates. UCF is an academic partnership and research leader in numerous fields, including
optics and lasers, modeling and simulation, engineering and computer science, business
administration, education, hospitality management, healthcare, and digital media and game
design. The University is classified as an R1: Doctoral University with very high research activity,
and in FY2025 UCF researchers received approximately $237.4 million in funded research. UCF
programs consistently receive national and international recognition. The Florida Interactive
Entertainment Academy (FIEA) has been ranked among the top graduate game design
programs in the world, and the Rosen College of Hospitality Management is widely recognized
as one of the top hospitality programs globally. Washington Monthly recognized UCF as one of
the nation's top public universities in its 2025 rankings, placing UCF No. 15 among public
institutions and No. 36 among all national universities.
As of March 2026, UCF has approximately $284 million available for its fixed income investment
portfolio. UCF's fixed income investment portfolio is structured, in accordance with the UCF
Board of Trustees' direction, as a working capital (i.e. operational) pool of funds. The investment
policy manual and governing regulations can be downloaded here. A committee comprised of
University Board of Trustee members and staff is responsible for the oversight of the portfolio in
accordance with sound fiduciary responsibility and best practices.
As indicated in the investment policy, the University establishes its investment parameters in
accordance with sections 1011.42(5) and 218.415, Florida Statutes, and the UCF Investment
Policy Manual.
The overall portfolio is working capital (operating funds) based and is not intended to be a long-
term institutional fund. It is segregated into four separate pools. Pool 1 and Pool 2 are to be
conservatively invested in investment vehicles focused on capital preservation. Pools 3 and 4
allow for investments in corporate debt and equity securities. The portfolio was specifically
designed to provide diversification while meeting the state of Florida's instructions that capital
preservation should be the highest priority. The pools are delineated in the investment policy
manual available here, and the relevant fixed income strategies are denoted below.
This solicitation applies exclusively to the fixed income portions of Operating Pools II, III, and IV.
It does not include Operating Pool I, equity management, alternative assets, or any other non
fixed income mandate.
As of December 2025, the fixed income portions of the pools of funds are delineated as follows:
1. Pool 2 $63 million (0-1 year maturity)
2. Pool 3 $154 million (1-5 year maturity)
3. Pool 4 $67 million (1-10 year maturity)
Currently, there are two separate account managers that manage funds across the pools, but

this number could change in the future.
2.0 GENERAL CONDITIONS
2.1 Authorized UCF Representative/Public Notices/UCF Discretion
The Respondent's response to this ITN and any communications and/or inquiries by the
Respondent during this ITN process shall be submitted in writing to the individual and address
stated below. Inquiries are preferred via email. UCF will consider only those communications
and/or inquiries submitted in writing to the individual below on or before the date and time
specified in Section 2.2, "Calendar of Events." To the extent UCF determines, in its sole
discretion, to respond to any communications and/or inquiries, such response will be made in
writing in the form of an addendum. UCF shall not accept or consider any written or other
communications and/or inquiries (except an offer) made between the date of this deadline and
the posting of an award, if any, under this ITN.
Nellie Nido
Procurement Services Department
3544 Perseus Loop #160975
Orlando, FL 32816-0975
Phone: (407) 823-5346
Email: nellie.nido@ucf.edu
Advance notice of public meetings regarding this ITN, if UCF determines at its sole discretion
whether any such meetings will be held, will be in writing and posted on the UCF Procurement
Services website. Additionally, any portion of a meeting at which a negotiation with a Supplier is
conducted pursuant to a competitive solicitation at which a Supplier makes an oral presentation
or at which a Supplier answers questions is exempt from s. 286.011 and s. 24(b), Art. I of the
State Constitution. This also includes any portion of a team meeting at which negotiation
strategies are discussed. All such meetings shall be conducted in accordance with Chapter 286
of the Florida Statutes. UCF also reserves the right and sole discretion to REJECT any offer at
any time on grounds that include, without limitation, either that an offer is non-responsive to the
ITN or is incomplete or irregular in any way, or that a responsive offer is not in UCF's best
interest.
2.2 Approximate Calendar of Events
Listed below are the dates and times by which stated actions should be taken or completed. If
UCF determines, in its sole discretion, that it is necessary to change any of these dates and
times, it may issue an Addendum to this ITN. All listed times are local time in Orlando, Florida.
Date/Time Action
June 22, 2026 Invitation To Negotiate advertised
July 6, 2026 Last day to submit communications and/or inquiries in writing only by 5:00
p.m.; preferably by email to nellie.nido@ucf.edu
July 10, 2026 Responses to inquiries and Addenda
July 24, 2026 Deadline for Offer submission at 3:00 p.m. (ITN opening)
2.3 Respondent Communications and/or Inquiries
A. UCF is not liable for interpretations/misinterpretations or other errors or omissions made by
the Respondent in responding to this ITN. The Respondent shall examine this ITN to

determine if UCF's conditions and requirements are clearly stated. If, after examination of
the various conditions and requirements of this ITN, the Respondent believes there are any
conditions or requirements which remain unclear or which restrict competition, the
Respondent may request, in writing, that UCF clarify or change condition(s) or requirement(s)
specified by the Respondent. The Respondent is to provide the Section(s), Subsection(s),
and Paragraph(s) that identify the conditions or requirements questioned by the Respondent.
The Respondent also is to provide detailed justification for a change and must recommend
specific written changes to the specified condition(s) or requirement(s). Requests for
changes to this ITN must be received by UCF not later than the date shown in Section 2.2,
entitled "Calendar of Events," for the submittal of written communications and/or inquiries.
UCF shall not make any changes to any of the non-negotiable terms and conditions. The
non-negotiable terms and conditions are indicated on Appendix I. Requests for changes to
the non-negotiable provisions of this ITN shall automatically be rejected. Requests for
changes to anything other than the non-negotiable provisions of this ITN may or may not be
accepted by UCF and may or may not be negotiated by UCF, all at UCF's sole discretion.
B. Any Respondent disagreeing with any negotiable terms and conditions set forth in this ITN
is to indicate in Appendix I, Terms and Conditions Supplemental Offer Sheet, the specific
ITN section(s) the Respondent disagrees with and is to provide a clear and detailed reason
for the disagreement and a solution to the disagreement in his/her offer. UCF may or may
not accept or agree to negotiate any of the terms and conditions that Respondents indicated
they disagreed with, all at UCF's sole discretion. The indication of disagreement with any
non-negotiable terms and conditions may be automatically rejected.
C. Failure to submit Appendix I and clearly indicate which terms and conditions the Respondent
agrees and disagrees with (i.e., failure to initial the designated sections set forth in Appendix
I, indicating that the Respondent has either understood and agreed to or disagreed with each
particular section listed on Appendix I) and/or clear and detailed reasons for the
disagreement, with the offer, may be grounds for rejection of that offer, at UCF's sole
discretion. UCF may or may not accept and/or negotiate any such terms and conditions that
the Respondent disagreed with. If UCF decides not to accept any of the terms and conditions
the Respondent disagreed with, UCF shall have the right, at UCF's sole discretion, to
exercise its right to reject the tentative awardee's offer and proceed to the next highest ranked
Respondent. As noted above, the disagreement with any non-negotiable terms and
conditions by the Respondent may be automatically rejected.
D. UCF shall at its sole discretion determine what requested changes to this ITN and the
resulting agreement are acceptable. Non-negotiable terms and conditions, as indicated in
Appendix I, will always stay as they are, and any requested changes to such clauses may
automatically be rejected. UCF shall issue an Addendum reflecting the acceptable changes
to this ITN, if any, which shall be sent to all known Respondents as specified in Section 2.1.
E. Any communications, questions and/or inquiries from the Respondent concerning this ITN in
any way are to be submitted in writing to the individual identified in Section 2.1 not later than
July 6, 2026 at 5:00 p.m. Eastern Time as set forth in the Calendar of Events. Written
inquiries are to be legible and concise and are to clearly identify the Respondent who is
submitting the inquiry. Questions directed to or any responses received from any other
department, person, agent, or representative of the University will not be considered valid or
binding.

2.4 Respondent Conference and Site Visit
Not Applicable
2.5 Written Addenda
Written Addenda to this ITN along with an Addenda Acknowledgment Form will be posted on
the Procurement Services website. The Addenda Acknowledgment Form is to be signed by an
authorized representative of the Respondent, dated and returned with the offer. All
Respondents, including known interested Respondents, are solely responsible for checking the
Procurement Services website periodically to verify whether any such Addenda and forms were
issued.
2.6 Offer Due/Proposal Opening Date
Proposals will be received and opened on July 24, 2026 at 3:00 p.m. via UCF's EUNA (Bonfire)
Web Portal. For additional information, please refer to Appendix IV - EUNA (Bonfire) Submission
Instructions for Suppliers. UCF shall in no way be responsible for or accept any proposals not
uploaded prior to the closing date and time. The Respondent's response to this ITN shall be
prepared in accordance with Section 3.0 "Required Offer Format." Telephone, facsimile,
telegraphic, and electronic mail offers, negotiations, and/or amendments to original offers shall
not be accepted.
2.7 Section Not Used
2.8 Evaluation Criteria and Selection Process
A. UCF reserves the right to conduct negotiations if the decision maker (UCF Board of Trustees,
Vice President/Dean or his/her written designee(s)) with the advice and consent of
Procurement Services determines negotiations to be in the best interest of the University.
Any portion of a meeting at which a negotiation with a Supplier is conducted pursuant to a
competitive solicitation is exempt from s. 286.011 and s. 24(b), Art. I of the State Constitution.
Discussions with Suppliers after receipt of an offer do not constitute a rejection, counteroffer
or acceptance by UCF.
B. UCF reserves the right to conduct negotiations with the proposer(s) whose offer(s) may
represent the best interest of the University. The following is a short overview of some of the
decision maker's responsibilities during the solicitation and award process:
1. Establish a group of evaluators tailored for the particular acquisition that includes
appropriate expertise to ensure a comprehensive evaluation of offers. The evaluators will
review all responsive offers;
2. Develop the acquisition plan (strategy to award with or without negotiations) after review
of offers;
3. Ensure consistency among the solicitation requirements, notices to proposers, offer
preparation instructions, evaluation criteria, solicitation provisions or contract clauses,
and data requirements;
4. Ensure that offers are evaluated based solely on the evaluation criteria contained in the
solicitation;
5. Consider the recommendations of the evaluators or other boards (if any);
6. Select the proposer(s) whose offer(s) are the best value to the University;
7. Select a negotiation team (only if award is not made outright). This can be the evaluators
or any other individual(s) the decision maker deems necessary for the acquisition. The