ICANN launches RFP to select providers for new asset management and custodial services

The Internet Corporation for Assigned Names and Numbers (ICANN) has issued a request for proposal (RFP) to identify provider(s) of asset management and custodial services as part of the organisation’s transition to a newly adopted, consolidated Investment Policy. Firms may apply to offer asset management, custodial services, or a combined proposal, reflecting ICANN’s flexible approach to structuring its financial oversight.

The selected provider(s) will be responsible for managing or safeguarding ICANN’s funds under management in line with the revised policy. ICANN notes that this process supports its longstanding commitments to transparency, accountability, and continuous improvement, and will be accompanied by guidance from the organisation’s independent investment adviser, Cornerstone Advisors Asset Management LLC. Interested firms must signal their intent via email, with full proposals due by 31 December 2025 at 23:59 UTC.

The RFP follows the ICANN Board’s 20 November 2025 approval of a single, comprehensive Investment Policy. Previously, ICANN maintained separate rules for permanent funds and temporary funds. The merger of these policies into a unified framework streamlines governance, enables more consistent comparisons across financial vehicles, and expands the scope of permissible investments, including the ability to hold non-US-dollar-denominated assets. ICANN also updated its Environmental, Social, and Governance Policy, adding restrictions on investments in the alcohol, tobacco, and firearms sectors.

According to ICANN, this consolidated policy is intended to reduce risk while enabling higher potential returns, providing a scalable structure that aligns with the organisation’s financial stewardship and long-term operational needs.