22-RFP-006-TH Solicitation FINAL.pdf

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DEO Solicitation No.: 22-RFP-006-TH, Page 1 of 56

RESPONDENT CONTACTS: Please provide the name, title, address, telephone number and e-mail address of the official contact and an alternate, if available. These individuals shall be available to be contacted by telephone or attend meetings as may be appropriate regarding the solicitation schedule.

PRIMARY CONTACT: SECONDARY CONTACT:

NAME, TITLE: NAME, TITLE:

ADDRESS: ADDRESS:

PHONE NUMBER: PHONE

NUMBER:

FAX NUMBER: FAX NUMBER:

EMAIL ADDRESS: EMAIL

ADDRESS:

DEPARTMENT OF ECONOMIC OPPORTUNITY

REQUEST FOR PROPOSAL

Solicitation Acknowledgement Form

Page 1 of 56 pages SUBMIT PROPOSAL TO:

Department of Economic Opportunity (DEO) Purchasing Office 107 East Madison Street, B-047 Tallahassee, Florida 32399-4128 Telephone Number: 850-245-7455

AGENCY RELEASE DATE:

August 2, 2022

SOLICITATION TITLE: SOLICITATION NO:

Investment Management Services 22-RFP-006-TH

PROPOSALS WILL BE OPENED: September 12, 2022 at 3:00 PM, Eastern Time and may not be withdrawn within 180 days after such date and time.

I certify that this Proposal is made without prior understanding, agreement, or connection with any corporation, firm, or person submitting a proposal 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 proposal and certify that I am authorized to sign this proposal for the Respondent and that the Respondent is in compliance with all requirements of the Request for Proposal, including but not limited to, certification requirements. In submitting a proposal to an agency for the State of Florida, the Respondent offers and agrees that if the proposal is accepted, the Respondent 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 purchasing agency tenders final payment to the Respondent.

RESPONDENT NAME:

RESPONDENT MAILING ADDRESS:

CITY – STATE – ZIP:

* Authorized Representative’s Signature

PHONE NUMBER:

TOLL FREE NUMBER:

FAX NUMBER: * Name and Title of Authorized Representative

EMAIL ADDRESS:

FEID NO.: *This individual must have the authority to bind the Respondent.

TYPE OF BUSINESS ENTITY (Corporation, LLC, partnership, etc.):

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SECTION A

PUR 1001 – GENERAL INSTRUCTIONS TO RESPONDENTS

This section explains the General Instructions to Respondents (PUR 1001) of the solicitation process, and is a downloadable document incorporated into this solicitation by reference. This document should not be returned with the Response: http://dms.myflorida.com/content/download/2934/11780

In the event of a conflict between the terms of the PUR 1001 and the terms of this solicitation, the terms of this solicitation control.

PUR 1000 – GENERAL CONTRACT CONDITIONS

The General Contract Conditions (PUR 1000) is a downloadable document incorporated in this solicitation by reference, which contains general contract terms and conditions that must apply to any contract resulting from this RFP, to the extent they are not otherwise modified herein. This document should not be returned with the Response: http://dms.myflorida.com/content/download/2933/11777

In the event of a conflict between the terms of the PUR 1000 and the terms of this solicitation, the terms of this solicitation control.

- Remainder of Page Intentionally Left Blank -http://dms.myflorida.com/content/download/2934/11780 http://dms.myflorida.com/content/download/2933/11777

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SECTION B

SPECIAL INSTRUCTIONS FOR THE PREPARATION AND SUBMISSION OF PROPOSALS

B.1 Solicitation Number 22-RFP-006-TH

B.2 Solicitation Type Request for Proposal (RFP)

B.3 Program Office Small and Minority Business Capital

B.4 Purchasing Office Tamara Harrington/Vincent McKenzie

GOCIII/Purchasing Manager 107 East Madison Street, B-047

Tallahassee, Florida 32399

(850) 245-7443/ 245-7463 Tamara.Harrington@deo.myflorida.com vincent.mckenzie@deo.myflorida.com

B.5 Restrictions on Communication with DEO Staff

Respondents to this solicitation or persons acting on their behalf may not contact, between the release of this solicitation and the end of the seventy-two (72) hour period following DEO posting the notice of intended award, excluding Saturdays, Sundays, and state holidays, any employee or officer of the executive or legislative branch concerning any aspect of this solicitation, except in writing to the Purchasing Office named above. Violation of this provision may be grounds for rejecting a proposal.

B.6 Calendar of Events

Listed below is the calendar of important actions and dates/times by which the actions must be taken or completed. If DEO finds it necessary to change any of these dates/times, it will be accomplished by addendum.

Time is stated in terms of local time in Tallahassee, Florida.

Estimated Calendar of Events Date and Time

1.

Date of Issuance and publication on the Florida Vendor Information Portal (VIP) website at:

https://vendor.myfloridamarketplace.com/search/bids

8/2/22

2. Technical Questions due from prospective Respondents (Only email inquiries will be accepted.) 8/16/22

3.

Anticipated Posting of Questions and Answers to the Florida Vendor Information Portal (VIP) website (via addendum) at:

https://vendor.myfloridamarketplace.com/search/bids

8/23/22

4. Proposals Due and Opened 107 East Madison Street, Caldwell Building, Tallahassee, Florida 32399 9/12/22 at 3:00 PM mailto:Tamara.Harrington@deo.myflorida.com mailto:vincent.mckenzie@deo.myflorida.com

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5. Anticipated Evaluation of Technical Proposals 9/16/22

6. Anticipated Posting of Notice of Intent to Award 9/26/22

Addenda or clarifications to this RFP will be posted on the VIP system. It is the Respondent’s responsibility to monitor VIP for any solicitation updates.

B.7 Notice of Potential Federal Funding

All or some portion of this procurement may be funded with federal funds. The exact amount of federal funding used will be based on DEO’s federally approved cost allocation plan.

B.8 Pre-Proposal Conference and/or Site Visit (This section does not pertain to this RFP.)

B.9 Questions (This section supersedes Section A, PUR 1001, Instruction #5, Questions)

Any questions from Respondents concerning this RFP shall be submitted via email to Tamara Harrington and Vincent McKenzie at Tamara.Harrington@deo.myflorida.com and vincent.mckenzie@deo.myflorida.com by the date and time specified in Section B.6, Calendar of Events. Only e-mail inquiries will be accepted. All emails to the procurement officer should contain the solicitation number in the subject line of the email. All questions and/or changes to the solicitation will be posted on the VIP system as an addendum. It is the prospective Respondent’s responsibility to periodically check VIP for any solicitation updates. DEO bears no responsibility for any delays, or resulting impacts, associated with a prospective Respondent’s failure to obtain the information made available through the VIP system. Respondent questions should be submitted in the format included in Attachment J – Technical Questions Submittal Form.

Each Respondent shall be responsible for any and all services required under this solicitation. The Respondent is required to carefully examine the specifications set forth and to be knowledgeable of any and all conditions and requirements that may in any manner affect the work to be performed as described in this solicitation. No allowances will be made to the selected Respondent because of lack of knowledge of conditions or requirements, and the selected Respondent will not be relieved of any liabilities or obligations.

INFORMATION WILL NOT BE PROVIDED BY TELEPHONE. Any information received through oral communication shall not be binding on the Agency and shall not be relied upon by any Respondent.

B.10 Submission of Proposal (This section supersedes Section A, PUR 1001, Instruction #3, Electronic Submission of Responses)

Proposals must be submitted in a sealed package with the solicitation number and opening date and time identified on the outside. Proposals must be submitted by hand delivery, U.S. Mail or Courier. PROPOSALS

SUBMITTED ELECTRONICALLY WILL BE REJECTED.

Each proposal shall be prepared simply and economically, following the instructions contained herein.

Since the Caldwell Building is a secured facility, if the Proposal is being hand delivered, please allow for sufficient time to gain access into the building.

mailto:Tamara.Harrington@deo.myflorida.com mailto:vincent.mckenzie@deo.myflorida.com

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PROPOSALS RECEIVED AFTER THE EXACT TIME SPECIFIED WILL NOT BE CONSIDERED AND WILL BE RETURNED

TO THE RESPONDENT UNOPENED.

B.11 Withdrawal of Proposal

A submitted proposal may be withdrawn, if within seventy-two (72) hours after the proposal due date and time indicated in the Calendar of Events, the Respondent submits a signed, written request for its withdrawal to DEO.

B.12 Proposal Opening (This section supersedes Section A, PUR 1001, Instruction #12, Public Opening)

The proposal opening will be held at the time and date specified in Section B.6, “Calendar of Events” in the Purchasing Office, 107 East Madison Street, Room B-047, Caldwell Building, Tallahassee, Florida.

The names of all Respondents submitting proposals shall be made available to interested parties upon written request to the contact person (Purchasing Office) listed in Section B.4. Any person with a qualified disability shall not be denied equal access and effective communication regarding any proposal documents or the attendance to any related meeting or proposal opening.

Sealed proposals received by DEO in response to this solicitation are subject to production, disclosure, inspection and copying, in accordance with Chapter 119, Florida Statutes, once DEO posts its decision or intended decision pursuant to s. 120.57(3)(a), F.S., or 30 days after the proposal opening, whichever is earlier.

B.13 Solicitation Requirements

The following requirements must be met by the Respondent in order for its Proposal to be considered responsive to this solicitation; however, this is not an exhaustive list of mandatory requirements. Timely proposals that do not meet all mandatory requirements of this solicitation, including providing all required information, documents or materials, will be rejected as non-responsive. Mandatory requirements of the proposal are those set forth as mandatory, or without which an adequate analysis and comparison of proposals is impossible, or those which affect the competitiveness of proposals or the cost to DEO.

Pursuant to section 287.137(2)(a), F.S., “A person or an affiliate who has been placed on the antitrust violator vendor list following a conviction or being held civilly liable for an antitrust violation may not submit a bid, proposal, or reply for any new contract to provide any goods or services to a public entity; may not submit a bid, proposal, or reply for a new contract with a public entity for the construction or repair of a public building or public work; may not submit a bid, proposal, or reply on new leases of real property to a public entity; may not be awarded or perform work as a contractor, supplier, subcontractor, or consultant under a new contract with a public entity; and may not transact new business with a public entity.”

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Proposals may be rejected as non-responsible if past performance or current status do not reflect the capability, integrity or reliability to perform fully and in good faith the requirements of the resulting contract.

B.14 Cost of Preparing Respondent’s Proposal

DEO is not liable for any costs incurred by a Respondent in responding to this RFP, including those for oral presentations, if applicable.

B.15 Disclosure and Ownership of Proposals by DEO

A Respondent’s proposal shall be a public record and subject to production, disclosure, inspection and copying consistent with the requirements of Chapter 119, Florida Statutes. A Respondent’s proposal, upon submission, and any resulting contract shall be the property of DEO except those parts asserted to be confidential or exempt

MANDATORY REQUIREMENTS FOR EVALUATION

A. It is MANDATORY that the Respondent submits its proposal in the format prescribed and within the time frame specified in Section B.6, Calendar of Events.

B. It is MANDATORY that the Respondent return, in accordance with the requirements of Sections B.34 and B.36.1, one (1) original, signed and sealed Technical Proposal, and one (1) electronic copy of the signed original Technical Proposal (on USB drive), which include the following required attachments:

1. DEO Solicitation Acknowledgement Form

2. Attachment A – Reference Form

3. Attachment C – Drug Free Workplace Certification

4. Attachment D – Disclosure Statement/Conflict of Interest

5. Attachment E – Certification Regarding Debarment

6. Attachment F – Certification Regarding Lobbying

7. Attachment G – List of Subcontractors

8. Attachment L - Provide a copy of your most recently prepared Uniform Application for

Investment Adviser Registration Part 2: Uniform Requirements for Investment Adviser Brochure and Brochure Supplements. If you are registered as a broker-dealer, please provide a copy of your current form certifying that the Broker Dealer is in good standing.

C. It is MANDATORY that the Respondent return, in accordance with the requirements of Sections. B.34 and B.36.2, one (1) original, signed and sealed Attachment B, Cost Proposal, and one (1) electronic copy of the signed original Cost Proposal (on a USB drive). Attachment B must be submitted in a sealed package separate from the other attachments.

D. If a Respondent fails to submit all completed documentation with its proposal, DEO reserves the right, but has no duty, to contact the Respondent by telephone for submission of this document via email. This right may be exercised when the proposal has met all other requirements of the solicitation.

The use of the terms “shall”, “must”, or “will” within these solicitation documents indicate a MANDATORY requirement or condition.

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DEO Solicitation No.: 22-RFP-006-TH, Page 7 of 56 pursuant to Chapter 119, Florida Statutes, and DEO, in its sole discretion, shall have the right to use, reproduce, and disseminate the proposal and contract.

B.16 Respondent’s Duties to Assert Exemption from Disclosure as a Public Record

Any proposal content submitted to DEO which is asserted to be exempted by law from disclosure as a public record shall be set forth on a page or pages separate from the rest of the proposal, and clearly marked “exempt,” “confidential,” or “trade secret” (as applicable), with the statutory basis for such claim of exemption specifically identified in writing on each and every such page. Failure to segregate and so identify any such content shall constitute a waiver of any claimed exemption as applied to the portion of the proposal or other document in which the content is set forth.

Pursuant to section 215.985(14), F.S., the Department of Financial Services (DFS), has developed a web-based system that provides information and documentation about government contracts called the “Florida Accountability Contract Tracking System” or “FACTS.” An important aspect of this system is the posting of contract images on the Internet, including contract attachments, which may include all or part of your proposal to this solicitation.

Any claim of exemption from public disclosure is waived upon submission, unless addressed as set forth above.

DEO will attempt to afford protection from disclosure of any trade secret as defined in section 812.081(1)(c), F.S., or section 688.002, F.S., where identified as such in the reply, to the extent permitted under section 815.045, F.S., or section 288.075, F.S., and Chapter 119, F.S. Each Respondent acknowledges that the protection afforded by section 815.045, F.S., is incomplete, and hereby agrees that no remedy for damages may arise from any disclosure by DEO.

DEO takes its public records responsibilities under Chapter 119, F.S., and Article I, Section 24 of the Florida Constitution, very seriously. If a Respondent considers any portion of the documents, data or records submitted in response to this solicitation to be exempted by law from disclosure as a public record, the Respondent must also provide DEO with a separate Redacted Copy of its proposal, in hard copy and on a USB, at the time of proposal submission.

This Redacted Copy shall contain DEO’s solicitation name, number, and the name of the Respondent on the cover, and shall be clearly titled “Redacted Copy.” The Redacted Copy shall be provided to DEO at the same time the Respondent submits its proposal to the solicitation and must only exclude or obliterate those exact portions which are exempted by law from public disclosure. Each individual portion of the Redacted Copy that Respondent asserts is confidential must contain a citation to the specific law making the content of the redacted portion confidential.

If it is determined that the proposal does not contain any information which is exempted by law from public disclosure, please provide as part of the proposal, a written statement to that effect which is executed by an authorized representative of the Respondent’s company with legal authority to make this determination on behalf of the Respondent.

Respondent shall protect, defend, and indemnify, save and hold harmless, DEO from any and all claims, demands, liabilities and suits of any nature arising out of, because of, or due to failure of DEO to release information redacted by the Respondent, and to further indemnify DEO for any other loss DEO incurs due to any claim being made

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DEO Solicitation No.: 22-RFP-006-TH, Page 8 of 56 against DEO regarding portions of its Redacted Copy being confidential, proprietary, trade secret or otherwise not subject to disclosure.

If Respondent fails to submit a Redacted Copy with its proposal, DEO is authorized to produce the entire document(s), data or records submitted by Respondent in answer to a public records request.

B.17 Posting of Recommended Award (This section supersedes Section A, PUR 1001, Instruction #13, Electronic Posting or Notice of Intended Award).

The Proposal Tabulation, with recommended award, will be posted for review by interested parties at the location identified in Section B.6, “Calendar of Events” above and on the VIP system for a period of 72 hours, excluding weekends and State observed holidays.

ANY NOTICE OF PROTEST OR FORMAL WRITTEN PROTEST MUST BE TRANSMITTED BY THE RESPONDENT TO THE AGENCY CLERK AS SET FORTH HEREIN. IN NO EVENT WILL DEO CONSIDER ANY COMMUNICATION MADE BY THE RESPONDENT TO ANY OTHER INDIVIDUAL AT DEO AS A NOTICE OF PROTEST OR A FORMAL WRITTEN PROTEST

UNDER S. 120.57(3), F.S.

Failure to file a protest within the time prescribed in section 120.57(3), Florida Statutes, or failure to post the bond or other security required by law within the time allowed for filing a bond shall constitute a waiver of proceedings under Chapter 120, Florida Statutes.

If the Respondent desires to protest this Solicitation or DEO’s decision or intended decision under this Solicitation, including a decision to reject all proposals, the Respondent must do so within the time prescribed in Section 120.57(3), F.S., and Chapter 28-110, F.A.C. All notices of protest under section 28-110.003, F.A.C., must be delivered by email to agency.clerk@deo.myflorida.com. All formal written protests under section 28-110.004, F.A.C., must be hand-delivered to the agency clerk at the following address:

AGENCY CLERK

DEPARTMENT OF ECONOMIC OPPORTUNITY

OFFICE OF THE GENERAL COUNSEL

107 EAST MADISON ST., MSC 110

TALLAHASSEE, FLORIDA 32399-4128

AGENCY.CLERK@DEO.MYFLORIDA.COM

B.18 Description of Work Being Procured DEO is requesting proposals from qualified Investment Managers to provide investment management services.

All work shall be performed in accordance with the Scope of Work contained in Section C.

B.19 Number of Awards

DEO may issue one (1) or more contracts for services under this solicitation. DEO reserves the right to issue multiple contracts if doing so is believed to be advantageous to DEO and the State of Florida. DEO, at its sole discretion, shall determine whether multiple contracts will be issued.

mailto:agency.clerk@deo.myflorida.com mailto:AGENCY.CLERK@DEO.MYFLORIDA.COM

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B.20 Contract Period

The contract period is expected to begin upon execution and remain in effect for a period of sixty (60) months.

The selected Contractor will be expected to be able to assume the responsibilities outlined herein within thirty

(30) days of contract execution.

DEO reserves the right to renew the contract resulting from this solicitation. Renewal of the resultingcontract shall be in writing and shall be subject to the terms and conditions set forth in the resulting contract. The resulting contract may be renewed for up to five years. All renewals are contingent upon satisfactory performance by the Contractor and the availability of funds.

B.21 Type of Contract Contemplated - (This section supersedes Section A, PUR 1000, Condition #2, Purchase Order), only if the Contract award is equal to or greater than $65,000)

A fixed rate contract is proposed; however, DEO reserves the right to award another type of contract if doing so is believed to be advantageous to DEO and the State of Florida, considering price and other factors. The Contractor shall be paid for the services rendered under the resulting contract upon satisfactory completion of these services.

Information on Federal procurement regulations, state statutes and rules referred to in this solicitation, may be obtained by contacting DEO’s Purchasing Office referred to in Section B.4.

B.22 Proposal Acceptance Period

DEO intends to execute the resulting contract(s) as soon as possible after the posting of DEO’s decision. DEO, at its discretion, may terminate discussions with the highest ranked Respondent if an agreement is not executed within thirty (30) days after the announcement of an award and may proceed to award the contract to the second ranked Respondent.

B.23 Firm Proposal - (This section supersedes Section A, PUR 1001, Instruction #14, Firm Response).

Any submitted proposal shall remain firm and valid for one hundred eighty (180) days after the proposal submission due date, or until a contract is fully executed, whichever occurs first. The Respondent shall not withdraw any proposal within this time period except as described in paragraph B.11. Any proposal that expresses a shorter duration of validity may, in DEO’s sole discretion, be accepted or rejected.

B.24 Disclosure

Information will be disclosed to Respondents in accordance with state statutes and rules applicable to this solicitation.

B.25 Laws and Permits

Contractor(s) must comply with all local, state and federal laws, rules, regulations and codes whenever work is being performed under the resulting Contract. All permits and licenses required for the resultingContract must be obtained by the contractor and maintained for the duration of the resulting contract.

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B.26 Insurance

1. Contractor’s Commercial General Liability Insurance:

By execution of the resulting Contract, unless Contractor is a state agency or subdivision as defined by Subsection 768.28(2), F.S., Contractor shall provide adequate commercial general liability insurance coverage and hold such liability insurance at all times during the resulting Contract. A self-insurance program established and operating under the laws of the State of Florida may provide such coverage.

2. Workers’ Compensation and Employer’s Liability Insurance:

Contractor, at all times during the resulting Contract, at its sole expense, shall provide commercial insurance of such a type and with such terms and limits as may be reasonably associated with the resulting Contract, which, as a minimum, shall be: workers’ compensation and employer’s liability insurance in accordance with chapter 440, F.S., with minimum employer’s liability limits of $100,000 per accident, $100,000 per person, and $500,000 policy aggregate. Such policy shall cover all employees engaged in any Contract work.

3. Other Insurance:

During the Contract term, Contractor shall maintain any other insurance as required in Section C, Scope of Work.

The Contractor selected under this RFP shall maintain, during the life of the resulting Contract, Workers’ Compensation Insurance for all of its employees connected with the resulting Contract. Such insurance shall comply fully with the Florida Workers’ Compensation Law. In case any class of employee engaged in hazardous work under the resulting Contract is not protected under the Workers’ Compensation statute, Contractor shall provide adequate insurance, satisfactory to DEO, for the protection of its employees not otherwise protected.

The Contractor selected under this RFP shall maintain, during the life of the resulting Contract, comprehensive general liability coverage with limits of not less than $100,000 per occurrence and $500,000 general aggregate for bodily injury and property damage.

The selected Contractor’s current certificate of insurance shall contain a provision that the insurance will not be canceled or modified for any reason except after thirty (30) days written notice to DEO’s Contract Manager, with the exception of ten (10) days’ notice for non-payment of premium by the insured.

The selected Contractor shall be required to submit insurance certificates, evidencing such insurance coverage, prior to the execution of a contract with DEO. The insurance certificate must name DEO as an additional insured and identify DEO’s Contract Number. Copies of new insurance certificates must be provided to DEO’s Contract Manager with each insurance renewal.

B.27 Vendor Registration

Prior to entering into a contract with DEO, the selected Contractor must be registered with the Florida Department of Management Services (DMS) MyFloridaMarketPlace VIP system. Information about the registration process is

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DEO Solicitation No.: 22-RFP-006-TH, Page 11 of 56 available, and registration may be completed, at the MyFloridaMarketPlace website at http://www.dms.myflorida.com/business_operations/state_purchasing/myfloridamarketplace/mfmp_vendors/r equirements_for_vendor_registration. Respondents who do not have Internet access may request assistance from MyFloridaMarketPlace Customer Services at (866) 352-3776.

The following DMS Class/Group code is provided to assist you in your registration efforts:

B.28 Florida Department of State Registration Requirements

All entities identified under chapters 607, 617, 620, 621 and 865, Florida Statutes, seeking to do business with DEO shall, prior to entering into a Contract, be appropriately registered with the Florida Department of State.

B.29 Diversity

The State of Florida is committed to supporting its diverse business industry and population through ensuring participation by minority, women, and veteran-owned business enterprises in the economic life of the state. The State of Florida Mentor Protégé Program connects minority, women, and veteran-owned business enterprises with private corporations for business development mentoring. We strongly encourage firms doing business with the State of Florida to consider this initiative. For more information on the Mentor Protégé Program, please contact the Office of Supplier Diversity at (850) 487-0915 or osdinfo@dms.fl.gov.

DEO supports diversity in its procurement program and requests that all subcontracting opportunities afforded by this solicitation enthusiastically embrace diversity. The award of subcontracts should reflect the vast array of citizens in the State of Florida. The Respondent can contact the Office of Supplier Diversity at (850) 487-0915 for information on certified business enterprises that may be considered for subcontracting opportunities.

B.30 Contractors and Subcontractors

DEO reserves the right to make an award to a Respondent that submits a proposal indicating that the Respondent intends to use one or more subcontractors, if DEO determines that such an award would be in the best interests of the state or DEO. If a Respondent intends to use one or more subcontractors to perform the services contemplated in this RFP, then that Respondent must list each such subcontractor. The Respondent shall have determined to their own complete satisfaction that a listed subcontractor has been successfully engaged in the services sought in this RFP for a minimum of five (5) years and is qualified to provide the services for which they are listed. Any listed subcontractor must be a Florida-registered Corporation, LLC, LP, LLP, or LLLP. DEO reserves the right to reject any Proposal if the Respondent includes a subcontractor that is not a Florida-registered Corporation, LLC, LP, LLP, or LLLP that has been in existence for at least five (5) years.

Code Description 84121701 Investment advisers 84121706 Financial asset management service 84121806 Securities Custodial Services http://www.dms.myflorida.com/business_operations/state_purchasing/myfloridamarketplace/mfmp_vendors/requirements_for_vendor_registration http://www.dms.myflorida.com/business_operations/state_purchasing/myfloridamarketplace/mfmp_vendors/requirements_for_vendor_registration mailto:osdinfo@dms.fl.gov

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B.31 Conflict of Interest

By submitting a response to this RFP, the Respondent certifies that it presently has no interest in and shall not acquire any interest, direct or indirect, which would conflict in any manner of degree with the performance of the services required to be performed under the contract resulting from this solicitation. The selected Contractor shall be required to provide written notification to DEO within five working days of the discovery of a potential conflict of interest. DEO shall have the sole authority to determine whether or not a conflict of interest exists.

B.32 Rights to Data and Copyright

Writings, publications, films, videos, technical reports, equipment, computer hardware and software, recordings, computer programs, computerized data bases, data processing programs, pictorial reproductions, maps, drawings, specifications, graphical representations, and works of similar nature (whether copyrighted or not copyrighted), which are submitted with a proposal or specified to be delivered under a project contract shall be maintained by DEO and may be released as public records. Additionally any writings, publications, films, videos, technical reports, equipment, computer hardware and software, recordings, computer programs, computerized data bases, data processing programs, pictorial reproductions, maps, drawings, specifications, graphical representations, and works of similar nature (whether copyrighted or not copyrighted), which are developed or produced and paid for in whole or in part by contract funds become the property of DEO except as may otherwise be provided in the resulting contract.

B.33 Most Favored State Status

The selected Respondent must agree to a most favored state status so that in the event the selected Respondent offers any other State Agency (or department) more favorable contract terms in relation to reimbursable items and events, or revenue share percentages that the selected Respondent agrees to make those terms available to DEO at the DEO’s option. Upon execution of the resulting contract, the selected Respondent shall sign a Prefered Pricing Affidavit, as required by section 216.0113, F.S. Following execution of the resulting Contract, the selected Respondent shall submit a Prefered Pricing Affidavit annually.

B.34 Submittal Requirements

Respondents must submit one (1) signed, bound, enclosed, and sealed original Technical Proposal and one electronic copy of the signed original Technical Proposal (on USB drive). The original shall be labeled “Original Technical Proposal”.

Respondents must submit one (1) signed, bound, enclosed, and sealed original Cost Proposal, and one electronic copy of the signed original Cost Proposal (on USB drive). The original shall be labeled “Original Cost Proposal”.

If a Respondent fails to submit the electronic, signed copy of its original Technical Proposal or the electronic, signed copy of its original Cost Proposal with its proposal package, DEO reserves the right to contact the Respondent by telephone for submission of this document via email with follow up via mail. This right may be exercised when the proposal has met all other requirements of the solicitation.

The Respondent’s Technical Proposal shall be packaged separately from its Cost Proposal or the proposal package will be rejected.

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If Respondent considers any portion of its Technical Proposal or Cost Proposal to be confidential, the Respondent shall submit a compact disc or USB drive containing one (1) copy of the signed, original proposal with the confidential information redacted. This compact disc or USB drive shall be titled “Redacted Copy.”

B.35 Elaborate Proposals

It is not necessary to prepare your proposal using elaborate brochures and artwork, expensive paper and bindings, or other expensive visual presentation aids. Your proposal shall be prepared in accordance with the instructions herein.

B.36 Instructions for Preparation of the Proposal

The instructions for this solicitation have been designed to help ensure all proposals are reviewed and evaluated in a consistent manner, as well as to minimize cost and response time.

The Respondent shall package and seal its Technical Proposal separately from its Cost Proposal. Failure by the Respondent to submit the “Technical Proposal” sealed separately from the Cost Proposal shall result in the proposal package being deemed non-responsive, and therefore, the proposal will be rejected. Failure of the Respondent to provide any of the information required in the technical proposal portion of the proposal package shall result in a score of zero for that element of the evaluation.

B.36.1 Technical Proposal

The Technical Proposal package shall be prepared by each Respondent utilizing 8.5” x 11” paper.

The Respondent’s Technical Proposal may not exceed 150 pages, including any exhibits or attachments.

DEO will not consider any pages of a proposal in excess of this limitation.

Using the description of work outlined in Section B.18 above and Section C, Respondents shall prepare their Technical Proposal Package in the order outlined below, with the sections tabbed for ease of identification and review.

The Technical Proposal will consist of the following and shall follow the format listed:

• Cover Sheet - DEO Solicitation Acknowledgement Form

The Respondent shall complete, sign, and return the “DEO Solicitation Acknowledgment Form” with its proposal submittal. This form must be completed and signed by a representative who is authorized to contractually bind the Respondent. If a Respondent fails to submit a signed DEO Solicitation Acknowledgement Form with its proposal, DEO reserves the right to contact the Respondent by telephone for submission of this document via email with follow up via mail. This right may be exercised when the proposal has met all other requirements of the solicitation.

If a Respondent submits a proposal as a joint venture, each member of the joint venture must complete and sign a separate Solicitation Acknowledgement Form.

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• Tab 1 – Level of Experience & Prior Results

The purpose of this section is to allow DEO to determine the extent of the Respondent’s overall experience and capabilities providing services similar to those requested by DEO in this RFP, and to assess how likely the Respondent is to successfully perform such services.

For each subsection, please include in your answer a description of your nexus to Florida, including number of investments, capital under management, capital raised, sources of capital, number of companies invested in, and track record.

A. Please provide a brief history of your overall experience and capabilities, emphasizing experience and capabilities making direct investments in Florida Businesses that operate in technology sectors that are strategic to Florida, including, but not limited to, enterprises in life sciences, information technology, advanced manufacturing processes, aviation and aerospace, and homeland security and defense, as well as other strategic technologies. To the extent you believe any parent or other affiliate’s experience or capabilities are relevant, please provide the same along with a justification of relevance. Please include a discussion of your experience and capabilities in marketing, targeting, outreach, and investing in businesses owned by Socially and Economically Disadvantaged Individuals (SEDI) and Very Small Businesses (VSB) (as those terms are used in the SSBCI Law).

B. Please describe any advisory services you have provided to other state sponsored venture capital programs. Identify the client, including providing a point of contact, along with name, title, phone number, and email.

C. Assets Under Management

Please include the following table or a similar table in your Proposal:

Account Type Asset Amounts Asset Amounts for Accounts Located in Florida

Number of Accounts

Number of Accounts Whose Principal Location is Based in Florida

Corporate Public Fund Union/Multi- Employer

Foundation and Endowment

Insurance High-Net-Worth Individuals

Sub-Advised Assets

Other (please explain)

Total

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D. Performance Reporting

(1) Describe your performance reporting and evaluation services.

(2) What methods and sources of data do you use in calculating investment performance of a client's portfolio? Do you comply with the Association for Investment Management and Research (AIMR) standards for rate of return calculation? Do you reconcile your calculated performance with investment managers and custodians? Describe this process.

(3) How often are performance reports produced and delivered? Include a sample performance evaluation report with your response.

(4) Discuss the performance metrics you are capable of providing.

(5) Describe how benchmarks are chosen or developed. Describe your custom benchmark capabilities. Explain how you choose what benchmarks are used for certain portfolios.

(6) Describe the track record of previous investments with a similar fund of funds investment structure.

(7) Provide samples of performance reports that you would use for the Equity Capital Program

(ECP).

• Tab 2 – Quality of Management

The purpose of this factor is to identify key personnel and to assess how likely you are to successfully perform based on your personnel’s experience and your incentivization plan.

A. Identify the consultants and other key personnel who would perform services for the ECP.

(1) Identify the role each would serve, and indicate the prior relevant experience each has for their proposed role, length of investment experience, and the length of their tenure with the Respondent. Please provide resumes.

(2) Describe the amount of anticipated weekly hours each consultant or key personnel will dedicate to the ECP.

(3) Identify where such consultants and other key personnel will be based and where they are currently based.

B. Please explain the compensation and incentive structure for key personnel that you will use for the ECP.

C. Please provide a short biography or resume of the persons responsible for your overall risk management.

D. Describe the availability of your personnel who will be dedicated to the ECP for meetings and calls with ECP personnel, investment company management, co-investors, and partners.

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• Tab 3 - Investment Philosophy and Process

The purpose of this factor is to understand your underlying investment philosophy and the process for evaluating a potential investment, performing due diligence, and making investment recommendations for investments in Florida Businesses using ECP funds.

A. Investment Philosophy and Process

(1) Please briefly describe your investment philosophy. How has it changed over time?

(2) Please discuss your investment strategy, screening processes, and portfolio construction methodology.

(3) Are portfolios managed by individual managers or teams?

(4) How frequently are investment policy or strategy meetings held?

(5) Explain your valuation process for investments.

(6) Describe your investment allocation policy.

B. Research

(1) Please describe your approach to investment research. Please indicate relationships with researchers and academics outside of your firm.

(2) Please give examples of how your research has been integrated into your products and services and how you anticipate your research capabilities to be used to meet the ECP’s goals and the SSBCI requirements.

(3) What tools do you use to evaluate managers and the market? Did you develop these tools in-house or purchase them from vendors?

C. Marketing

(1) Describe your strategy for marketing the ECP, including whether you intend to use any third-party or subcontractors to perform marketing and outreach services.

(2) Describe how you will engage in marketing to secure additional capital with respect to ECP investments and source the best investment opportunities for the ECP.

D. Deal Flow

(1) Describe what your approach will be to deal flow for the ECP including the process you will employ to generate investment opportunities meeting the SSBCI requirements, how you will

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DEO Solicitation No.: 22-RFP-006-TH, Page 17 of 56 perform due diligence, present investment opportunities, engage in ongoing management and compliance activities, and exit strategies.

(2) Describe how you will utilize your existing network to identify investment opportunities.

E. Risk Management

(1) Describe and list third parties that you use for professional services, including banking, legal, tax, and auditing and the length of your relationship with each, respectively.

(2) Describe your insurance coverages, including for Directors and Officers, Errors and Omissions, Crime, Employment Practices and Liability, and Cyber Security and provide the current declaration page for each.

(3) Describe your Disaster Recovery and Business Continuity Plans, as well as a Cybersecurity

Policy.

(4) Describe your plan to comply with the requirements of the SSBCI Law and any guidance or F.A.Q. documents issued by the U.S. Treasury as it pertains to the ECP.

• Tab 4 – Fundraising Experience

The purpose of this factor is to understand your experience and ability to meet the leverage requirements of the SSBCI program.

A. Describe your process for raising funds for proof-of-concept, minimum viable product, and seed stage investments.

B. Describe your process for attracting additional capital to invest alongside ECP funds.

C. Describe how you will utilize your existing network to raise funds from local, regional, or national sources in order to attain maximum economic and job benefits for Florida.

D. Describe your expectations for co-investing Direct Investments presented as investment opportunities for the ECP and what approach you would utilize?

• Tab 5 – Plan for Achieving the Purposes of the State Small Business Credit Initiative

The purpose of this factor is to help DEO understand how you intend to perform the services in accordance with the statutory and regulatory requirements of the SSBCI and DEO’s application submitted to the U.S.

Treasury, and to understand the benefits, efficiencies, and risks associated with your approach and to assess the approach accordingly. The laws, regulations, and guidance governing the SSBCI are publicly available at https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci.

A. Please state your understanding of the ECP and how you will ensure that the statutory and regulatory goals of SSBCI are achieved.

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B. Describe how you will prioritize investment opportunities based on compatibility with the ECP requirements and what factors will be prioritized when presenting investment opportunities.

C. How will you measure whether the ECP is successful?

D. Direct Investments

(1) Describe your internal processes to identify and source potential Direct Investment opportunities in Florida Businesses operating in technology sectors strategic to Florida as it relates specifically to:

a. Angel or seed stage investments, including, as applicable, proof of concept and minimum viable product funding and

b. Series A funding.

(2) Describe your due diligence process to assess an overall Direct Investment opportunity including project assessment, market analysis, evaluation of products and services, management experience, job creation and retention, and financial capacity analysis.

(3) Describe how you will ensure that a potential Direct Investment opportunity meets the statutory and program requirements of the ECP from time of identification throughout the lifetime of the investment.

(4) Describe how you will evaluate Direct Investment risk including market size, potential competitors, market landscape, market entry strategies, price, product margin, and ability to generate revenue.

(5) Describe how you will evaluate a company’s technology including validating the technology and assessing risk associated with developing, producing, and selling its product, assessing successful market entry and a company’s ability to reach target customers within a reasonable timeframe.

(6) Describe your process for ensuring the ECP meets statutory and programmatic requirements.

(7) Describe your approach to achieving a diverse portfolio of investments geographically, by size, and by area of technology within the parameters of the ECP.

(8) Detail the background check process performed on potential Direct Investments, including any key personnel involved in the operations.

(9) Describe how you evaluate a company’s management team and leadership including relevant experience and past successes and failures.

(10) Describe what factors you will use to determine whether a business operates in technology sectors that are strategic to Florida.

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