Today, the Internet Corporation for Assigned Names and Numbers (ICANN) issued a request for proposal (RFP) to identify provider(s) to deliver asset management and custodial services in alignment with its newly adopted Investment Policy. Firms may respond to this RFP to provide asset management services only, custody services only, or both asset management and custody services.
The selected provider(s) will be responsible for asset management or custodial services for ICANN's funds under management in accordance with its Investment Policy. These services will support ICANN's commitment to transparency, accountability, and continuous improvement. The RFP will be supported by ICANN's independent, third-party investment adviser, Cornerstone Advisors Asset Management LLC.
Read the RFP Overview for more details, including the timeline.
Indications of interest should be emailed to [email protected]. Proposals should be emailed by 23:59 UTC on 31 December 2025.
On 20 November 2025, the ICANN Board of Directors approved a revised Investment Policy. Previously, ICANN had two separate investment policies: one for permanent funds (the Operating Fund, Supplemental Fund for Implementation of Community Resources, and Reserve Fund) and one for temporary funds (New Generic Top-Level Domain Application Fees and Auction Proceeds). The new single, comprehensive Investment Policy ensures all investment vehicles are fully transparent and allows for investments in asset types that can provide higher returns with reduced risk. Additionally, all funds can now be invested in non-U.S.-dollar denominated assets. Further, this single policy is scalable and easier to evolve, while enabling easier comparison among all funds that ICANN manages. Finally, ICANN has updated its Environmental, Social, and Governance Policy to restrict investment in the alcohol, tobacco, and firearms industries.