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New Jersey Turnpike Authority·New Jersey

RFQ - BROKER DEALER PROFESSIONAL SERVICES

Closes 8/31/2026$500k – $2MRequest for QuotationLogin required
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Description

This solicitation seeks a qualified broker‑dealer to provide professional services managing the New Jersey Turnpike Authority’s $3‑4 billion investment portfolio. The work is statewide (NJ) and must comply with extensive regulatory, insurance, and equal‑employment requirements. Bids will be opened via a conference call on the submission deadline; a full proposal and several mandatory exhibits (P & Q, affidavit of moral integrity, AA disclosures, etc.) are required.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Key dates

Opened
8/14/2026
Questions due
8/21/2026
Closes
8/31/2026

Last updated

Details

Type
Request for Quotation
Industry
Financial Services
NAICS
523130
Solicitation №
RM-200962

Budget estimate

$500,000 – $2,000,000

The solicitation does not disclose a contract value; however, industry practice for managing a $3‑4 B portfolio typically ranges from 0.1% to 0.5% of assets under management annually. Assuming a 0.2% fee yields roughly $6‑8 M per year, but the contract may be for a shorter term or limited scope, so a realistic award range could be $500 k to $2 M for the initial contract period.

AI estimate from the solicitation

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