Attachment_1_-_Statement_of_Work..pdf

STATEMENT OF WORK

OVERSEAS PRIVATE INVESTMENT CORPORATION

INVESTMENT FUNDS PRIVATE EQUITY REPORTING SYSTEM

1.0 GENERAL INFORMATION/IFD BACKGROUND

The Overseas Private Investment Corporation (OPIC), a self-sustaining development finance agency of the U.S. Government, seeks a proven private equity fund reporting system (the PERS) for the

Investment Funds Department (IFD) portfolio of investments in emerging market private equity funds

(the “Portfolio”). The contractor will implement and potentially customize, in consultation with IFD and the Office of Chief Information Officer (OCIO), a pre-existing, operational system.

OPIC (www.opic.gov) was established as an agency of the U.S. government in 1971. OPIC helps U.S.

businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S.

foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. OPIC’s political risk insurance and financing help U.S.

businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide.

Over the agency’s 40-year history, OPIC has supported $188 billion worth of investments that have helped developing countries to generate over $13 billion in host-government revenues and create over

800,000 host-country jobs. OPIC projects have also generated $74 billion in U.S. exports and supported more than 274,000 American jobs.

Since the program’s inception, IFD has provided approximately $5 billion in guaranteed support to over 85 privately owned, privately managed investment funds that make direct equity, quasi-equity and debt investments primarily in new, expanding or privatizing companies in several dozen OPIC-eligible emerging market countries. Each OPIC-supported fund has a capital structure that is comprised of an OPIC-guaranteed debt facility (“OPIC Participation”) and institutional equity capital. OPIC

Participations are loan products with investment terms and return characteristics similar to mezzanine debt. Presently, OPIC has approximately $3 billion committed in OPIC Participations to 45 active funds (the “OPIC Funds Portfolio”). The OPIC Funds Portfolio is expected to increase both in terms of total amount outstanding and the number of active funds (and portfolio companies) in each of the next several years.

2.0 SCOPE OF WORK

This requirement encompasses two distinct components, described below. The Vendor can submit a proposal for either one of the components and/or submit a proposal to fulfill both components. Note that the Agency may i) select a distinct vendor to fulfill each component, ii) select one vendor to fulfill both components or iii) may choose not to fulfill both components and select only one vendor to fulfill one component. The two components included in the PERS are:

A. A web-based information technology system or service component (the “System”) to be used to capture, store and report data from all phases of a fund’s life cycle, from inception to final distribution/wind-down (including performance data at both the fund and portfolio company levels) and

B. An administrative services component (the “Administrative Services”), including ongoing monthly, quarterly and yearly data collection, data entry, report preparation and quality http://www.opic.gov/ control. A list of data elements to be gathered/stored/ administered/reported can be found in

Appendix I (Fund Level Data Elements) and Appendix II (Portfolio Company Data Elements).

A list of typical reports can be found in Appendix III (Reports & Templates).

Vendors submitting proposals for the System should have significant industry knowledge of private equity and investment management front-, middle- and back-office operations, and demonstrable experience, track record and a client list evidencing an ability to deliver, implement and support a proven data platform. The Agency will not consider proposals for systems or platforms under development or those without a substantial track record of proven system functionality and deployment and/or service delivery. Vendors submitting proposals for the Administrative Services should have significant experience and track record in providing back office reporting and administration services for investment managers and/or private equity fund managers (i.e. general partners, or GPs) and fund investors (i.e. limited partners, or LPs). Note that the Vendor’s proposal may include either of the two components or may include a combination of the two components. The Agency will not consider proposals for Administrative Services from Vendors without substantive experience and track record in administering global private equity funds. Note that track records will be confirmed by reference calls.

2.1 MINIMUM QUALIFICATIONS

A. The account manager must meet the guidelines set forth in the Security section of the OPIC

Terms and Conditions.

2.2 SYSTEM FUNCTIONALITY

The System is expected to have the following functionality:

A. Provide PC- or workstation-based system with access to management information and accounting systems with the capability of providing the following information:

1. Fund level elements (Appendix I)

2. Portfolio company level elements (Appendix II)

3. Composite portfolios

4. Current and historical transactions by investment; by strategy; by asset class

5. On-line access to current and historical holdings in any aggregate

6. Customized reports as required

7. Ad hoc query and reporting

8. Ability to upload and migrate information from Client to Vendor (XBRL/Microsoft)

9. Multi-level access control and permissioning

B. Provide state-of-the-art back-up systems to minimize loss of data and provide instant availability.

C. Ability to download portfolio holdings which includes the receipt of periodic cash payments from private equity and alternative investments.

D. Provide staff with the ability to review all externally managed portfolios, and perform an automated reconciliation to asset positions and income accruals on a monthly basis.

E. Provide a system which automatically populate capital call and management fee requests from private equity and alternative investments.

F. Calculations

1. IRR

2. Total Contributions and Distributions

3. Unfunded Commitment

4. Recallable Distributions

5. Multiple of Cash Invested (MOC), TVPI, DPI

6. Net Asset Value (NAV)

7. VAR

2.3 REPORT REQUIREMENTS

A. Report Generation & Creation

1. Data must include all points outlined in Appendices I, II, and III

2. Ability to create charts & graphs related to fund level data, underlying holdings, cash flows, commitments, and fair market value and record/view sector, geography, investment strategy.

3. Ability to customize reports to include text fields.

4. Ability to calculate and view combined executive summary performance for all portfolios, including fund summary (total size, target geography, and investment strategy) and list of current portfolio companies with same attributes, as well as fund-by-fund breakdown of performance.

B. Provide quarterly reports, including fund-level and individual line item performance to be received no later than 120 working days after quarter-end for on-line reports and hard copy reports.

C. Provide accurate monthly, quarterly, and year-to- date reports on all transactions, income, and other pertinent investment data, in a format acceptable to OPIC

D. Provide certification that the reported information is complete and accurate.

E. Performance measurement, attribution, and other analytic reports.

2.4 TASKS

In consultation with IFD and OCIO, the contractor is expected to accomplish the following:

A. System

The selected System provider will ensure successful implementation, deployment, data conversion, migration, testing, documentation, training and ongoing support of the acquired System. Anticipated implementation services required include:

1. Requirements confirmation and mapping

2. Implementation and configuration of the proposed System

3. Interface development and integration with OPIC’s specialized financial management functions

4. Integration with the OPIC’s Oracle Financial platform and Tableau

5. Quality Assurance activities

6. Data conversion activities

7. Migration of existing systems, including data and all work in progress activities

8. Organizational change management activities

9. Testing

10. Training of OPIC staff

11. Documentation

B. Administrative Services

The selected Administrative Services provider will work jointly with OPIC to migrate approximately 45 initial funds and all associated data points, prior to maintaining a separate book of record and document storage on behalf of OPIC. The reporting requirements have been outlined above in Section 2.3.

The Administrative Services provider should also possess relevant experience providing services to similar plans and participant populations. Though it is not expected that such plans will be the provider’s primary focus, dedicated administration, client service, and communications are highly desirable.

The Administrative Services provider will work in parallel with OPIC, for a mutually agreed upon time, in order to establish & execute both administrative and reporting processes.

C. Combination of System and Administrative Services

Responders for combined System and Administrative Services will be expected to perform both functions as outlined above.

3.0 SECURITY REQUIREMENT

The web-based system must have an existing FedRAMP Agency Authority to Operate (ATO) for a

FISMA moderate environment or be sponsored by a federal agency and in the FedRAMP In-Process status and capable of achieving an ATO by contract award. The system must be able to satisfy any additional cybersecurity requirements identified by the OPIC Office of the Chief Information Officer.

All contract personnel who will have access to OPIC data or websites shall have an OPIC approved background investigation prior to gaining access to OPIC (per the standards in 5 CFR Part 731). OPIC may include the Applicant Name Check, the National Agency Check and Inquiry (NACI), Special

Agreement Check (OFI-86C), and/or other OPIC approved previous investigation(s). Personnel and

Physical security contract employees must be able to obtain and maintain a favorable fitness / suitability determination at the Public Trust level.

4.0 PLACE OF PERFORMANCE

A. The majority of work will be performed at contractor’s offices

B. Any in-person meetings are to be held at OPIC’s offices at 1100 New York Avenue, N.W.

Washington, D.C. 20527

5.0 PERIOD OF PERFORMANCE

A. One year base and Four year options:

B. Implementation period shall be for nine months from the date of award work with up to three one-month extensions as mutually agreed between OPIC and contractor.

C. Ongoing services to be provided annually with up to four one-year option at OPIC’s discretion.

D. Work is expected to begin immediately upon contract execution.

6.0 DELIVERABLES

A. System

1. Work Plan for System Implementation

2. Fully implemented and operational PERS (including necessary customizations).

3. Training manual and/or User guide inclusive of any OPIC-specific customizations.

4. Full training of users

B. Administrative Services

1. Work plan for Administrative Services and fully implemented and operational

Administrative Services processes and procedures.

7.0 TYPE OF CONTRACT

OPIC anticipates awarding a hybrid Firm-Fixed Price (FFP) and Time & Materials (T&M) type contract.

8.0 TRAVEL

Travel may be required for this effort.

9.0 GOVERNMENT FURNISHED INFORMATION, EQUIPMENT, AND FACILITIES

The government will not furnish any property for this effort.

10.0 CONTRACTOR FURNISHED INFORMATION, EQUIPMENT, AND FACILITIES

The contractor will provide all labor, materials, equipment, and facilities to complete all tasks required for this effort.

11.0 NON-DISCLOSURE AGREEMENT

The Contractor shall deliver to the Contracting Officer’s Representative (COR) a signed nondisclosure agreement (NDA) for all Contractor personnel for whom there exists the possibility of coming into contact with “OPIC materials and information,” as defined in the NDA. All such Contractor personnel must sign and submit to the COR the Nondisclosure Agreement included in Section 14.0 herein. The

Contractor shall provide the signed nondisclosure agreements to the COR prior to the Contractor’s staff commencing their assigned duties within the Overseas Private Investment Corporation’s headquarters building or at any of its other offices.

12.0 INTELLECTUAL PROPERTY

All Contractor developed processes and procedures and other forms of intellectual property first developed under this contract shall be considered Government property. All documentation, photography and electronic data and information collected by the Contractor and entered into or generated in support of this contract shall be considered Government property, and shall be returned to the Government at the end of the performance period.

13.0 SECTION 508 COMPLIANCE

Rehabilitation Act of 1973- All microcomputer data files (including text documents, databases, spreadsheets, graphs, and other types of files), when required, shall be IBM-PC compatible. When producing these data files, the Contractor shall take into account the needs of all end users – including people with disabilities. To ensure that end users with disabilities have access to and use of information and data that is comparable to that provided to others, contractors shall provide deliverables that are compliant with statutory Section 508 of the Rehabilitation Act of 1973 (found at

29 U.S.C. 794d).

14.0 APPENDICES

Appendix I Fund Level Data Elements

Appendix II Portfolio Company Data Elements

Appendix III Reports & Templates

Appendix I

Fund Level Data Elements

1. Summary Information

a. Fund name

b. Investment manager

c. General Partner

d. Field for OPIC-generated unique ID #

e. Investment focus (all pre-determined drop-down boxes)

i. Stage

ii. Geography

iii. Sector

f. Currency

g. Investment Thesis (text box)

h. Monitoring Contact Details

i. Notes box

j. Dates

i. Creation

ii. First close

iii. Final close

2. Fund Details

a. Total commitments $

b. GP commitment $

i. Drawn

1. Beg Bal, End Bal, transactions during period with dates

ii. Undrawn

c. LP commitments $ (aggregate)

i. Drawn

ii. Undrawn

d. OPIC commitment $

i. Drawn

1. Beg Bal, End Bal, transactions during period with dates

ii. Undrawn

iii. Commitment Fee %

iv. Deferred Interest %

v. Current Interest %

vi. Facility Fee %

e. Investment Period

i. Years

ii. End date

f. Management fee %

g. GP Carry %

3. Fund Transactions

a. Investments made ($ and date)

b. Distributions ($ and date)

c. Valuations ($ and date)

d. Expenses

e. Fees

4. Fund Capital Account (in aggregate)

a. Committed capital

b. Beginning capital account balance

c. Capital contributions, net of recalled contributions

d. Management fees

e. Net investment income or loss

f. Realized gain or losses

g. Unrealized gain or losses

h. Distributions

i. Transfers

j. Carried interest paid or allocated (including any pending claw back payment)

k. Ending capital account balance

l. Remaining unfunded commitment

5. Fund Investments

a. Company name

b. Company status (private, public, etc.)

c. Date (month, year) of initial investment

d. Industry and sub-sector (NAIC, SIC code or pre-determined drop-down box)

e. Current stage (seed, early-stage, later-stage, expansion, buyout) and stage at purchase

f. Current % of equity held

g. Cost as of report date (w/date)

h. Fair Value as of report date (w/date)

i. Investment multiple (Fair Value /cost) w/as of date

j. Gross IRR (w/date)

k. Currency denomination

l. Currency spot rate (w/date)

6. Realized/Unrealized Summary

a. Company name

b. Cost of Investment

c. Cash flows for realized and partially realized investment and the unrealized value

d. Proceeds

e. Realized gain/loss

7. Fund Performance (calculated)

a. Gross (with calculation dates)

i. Multiple (cash-on-cash)

ii. Multiple (with unrealized valuations)

iii. IRR (cash-on-cash)

iv. IRR (with unrealized valuations)

b. Net to LP with calculation dates)

i. Multiple (cash-on-cash)

ii. Multiple (with unrealized valuations)

iii. IRR (cash-on-cash)

iv. IRR (with unrealized valuations)

c. Private sector and/ or public equity benchmarks that parallel investment style. Benchmark returns should be a dollar weighted return. Differences in the benchmark construction relative to funds/composites should be disclosed

8. Attachments (OPTIONAL)

a. Fund financials

b. Fund manager letters

c. Other materials/presentations

d. Annual meeting notes, etc.

Appendix II Portfolio Company Level Data Elements

1. Company name

2. Company contact details (country)

3. Notes box (multiple)

4. Dates (month and year)

a. Initial investment

b. Exit from portfolio

5. Industry and sub-sector

a. NAICS,

b. Optional: Support for coding multiple sectors to a single portfolio company.

c.

6. Quarterly valuation data

a. Cost invested

b. FMV

c. Realizations

7. Summary Metrics

a. Revenue

b. EBITDA

c. Net Income

d. TEV

e. Total Assets

f. Debt/Total Cap

g. FCF

h. Capex

8. Attachments (OPTIONAL)

a. Income Statement

b. Balance Sheet

c. Cash Flow Statement

d. Miscellaneous

9. Optional

a. Capital Structure

b. Ownership Structure (DUNS)

Appendix III Reports & Templates

1. Portfolio Overview/Summary

a. Geo

b. Industry

c. Performance

2. Fund Overview

3. Fund Financial Dash Board

4. Portfolio Company Overview

5. Capital Account – Current Period

6. Capital Account – Inception to date

7. Fees schedules

8. Other Ad Hoc Reports

9. Templates for Data Import (attached)