Attach B_REITS Mandatory Requirements_.docx
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- Solicitation number
- 16PBGC26R0001
- Issued by
-
Pension Benefit Guaranty Corporation
About this file
This is an Offeror Certification and Mandatory Requirements Compliance document for Phase 1 of the Pension Benefit Guaranty Corporation's Request for Proposal 16PBGC26R0001 for Real Estate Investment Trust (REIT) Management Services. Offerors must demonstrate compliance with seven mandatory requirements to proceed to Phase 2 technical proposal evaluation. Required qualifications include: full registration in SAM.gov; SEC registration as an investment advisor or proof of bank exemption with Form ADV submission; willingness to benchmark against the FTSE NAREIT Equity REITs Index; fiduciary status under the contract; and a minimum of $1.0 billion in assets under investment management in the proposed product as of September 30, 2025, with domestic REIT assets managed as part of global REIT strategies excluded from this calculation.
Additionally, offerors must provide a GIPS-compliant track record of at least five years with full GIPS disclosures, and the proposed product's average rolling 36-month information ratio over the past ten years (or since inception if less than ten years) through September 30, 2025 must meet or exceed 0.40. The benchmark used for the information ratio calculation must be the fund's current benchmark and must be one of the following: FTSE NAREIT All Equity REITs Index, FTSE NAREIT Equity REITs Index, MSCI U.S. REIT Index, or Dow Jones/Wilshire U.S. REIT Indexes. Offerors must document compliance with each requirement (except A, C, and D, which require yes/no responses only), sign the certification cover sheet, and include all supporting documentation in Volume 1. Proposals failing to demonstrate mandatory requirement compliance will not advance to Phase 2 technical evaluation.
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Other files
| File | Type | Posted |
|---|---|---|
| Amendment 02_Attach B.1_ Calculation Item G.xlsx | XLSX spreadsheet | |
| 20_Amendment 02_Solicitation Cover Letter_16PBGC26R0001.pdf | ||
| 20a_Amendment 02_Solicitation - 16PBGC26R0001.pdf | ||
| Amendment 02_ Attach F_Excel Tables Updated.xlsx | XLSX spreadsheet | |
| 16PBGC26R0001 (A0001).pdf | ||
| Amendment 01_ Attach F_Excel Tables.xlsx | XLSX spreadsheet | |
| 20_Solicitation Cover Letter_16PBGC26R0001.pdf | ||
| 20a_Solicitation - 16PBGC26R0001.pdf | ||
| Attach C_REITS Tech Approach Questionnaire_.docx | DOCX document | |
| Attach E_REITS Corp Exp Questionnaire_.docx | DOCX document | |
| Attach D_REITS Firm Resources Questionnaire_.docx | DOCX document | |
| Attach F_Excel Tables_.xlsx | XLSX spreadsheet | |
| Attach G_REITS OCI Statement.docx | DOCX document | |
| Attach J_Mercer Non-Disclosure Agreement.docx | DOCX document | |
| Attach H_REITS Supporting Price Template.xlsx | XLSX spreadsheet | |
| Attach I_REITS QandA Template.xlsx | XLSX spreadsheet |
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OFFEROR CERTIFICATION
The offeror must respond to each of the questions in the format below.
VOLUME 1 - PHASE 1- MANDATORY REQUIREMENTS/QUALIFICATION COMPLIANCE
Proposals for this solicitation shall meet ALL the following mandatory requirements in Phase 1 in order to be further evaluated in Phase 2.
Offerors shall provide documentation to demonstrate compliance with the mandatory requirements, check the appropriate response box, and sign this cover sheet below to certify that they meet all the Mandatory Requirements.
Offerors shall document compliance with these Mandatory Requirements in Volume 1. Documentation of compliance MUST be provided within the Mandatory Requirements Volume 1. The Technical Proposal Volume 2 of offerors who have not demonstrated compliance with Volume 1 will not be reviewed, and the offeror will not proceed to Phase 2.
The Mandatory Requirements Volume 1 shall include documentation for EACH mandatory requirement (except A, C, and D) and include the signed cover sheet with the appropriate response of “Yes” or “No”:
ATTACHMENT B:
VOLUME 1 - PHASE 1- MANDATORY REQUIREMENTS/QUALIFICATION COMPLIANCE
| A. |
| Offeror must be fully registered in SAM.gov. |
| ☐ Yes |
☐ No
| B. |
| The Offeror is registered with the SEC as an investment advisor or can provide proof of bank exemption. A link to the complete Form ADV, Parts I and II including all Disclosure Reporting Pages is required. |
| ☐ Yes |
☐ No
| C. |
| The Offeror must be willing to benchmark the proposed product against the FTSE NAREIT Equity REITs Index. |
| ☐ Yes |
☐ No
| D. |
| The Offeror shall act as a fiduciary under this contract |
| ☐ Yes |
☐ No
| E. |
| The Offeror has a minimum of $1.0 billion in assets under investment management in the proposed product as of September 30, 2025. Assets in the same product managed in either a commingled fund format or separate account may be included. Domestic REIT assets managed as part of a global REIT strategy may not be included. The Offeror must provide the AUM level of the proposed product as of September 30, 2025 in order to satisfy this requirement. |
| ☐ Yes |
☐ No
| F. |
| The proposed product must have a GIPS compliant track record of at least five years. The Offeror must list the inception date of the fund and GIPs compliant performance as of September 30, 2025 in order to meet this requirement. Full GIPS disclosures are also required. |
| ☐ Yes |
☐ No
| G. |
| The proposed product’s average of the rolling 36-month information ratios over the past ten years, or since inception if track record is less than ten years, through September 30, 2025 must be at least 0.40. The acceptable format for calculating the information ratio is included and must be presented to show you have met this requirement. The benchmark which the proposed product’s information ratio is presented against must be the benchmark that the fund is currently managed against and must be one of the following: FTSE NAREIT All Equity REITs or FTSE NAREIT Equity REITs Indexes, MSCI U.S. REIT Index, or Dow Jones or Wilshire U.S. REIT Indexes. This benchmark must also be presented with any performance tables required in the Technical Proposal, Volume II. |
| ☐ Yes |
☐ No
TABLE 1:
MANDATORY REQUIREMENTS QUESTIONNAIRE
The Offeror hereby certifies that it meets all the mandatory requirements.
Print Name:________________________________________
Title: _____________________________________________
Firm Name: ________________________________________
Signature: ________________________________________
Date:________________________
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