Notice of Intent to Sole Source.pdf
PDF 39 KB Posted
- Attached to
- Notice of Intent to Sole Source
- Solicitation number
- 16PBGC25R00XX
- Issued by
-
Pension Benefit Guaranty Corporation
About this file
This presolicitation notice is for a sole-source acquisition by the Pension Benefit Guaranty Corporation (PBGC) for Private Markets Investment Monitoring Services. The purchase order will be awarded to JP Morgan for monitoring inherited private asset Limited Partnership (LP) positions, with a period of performance from 9/1/2025 to 8/31/2030. The services require cash flow tracking, performance measurement, reporting, LP documentation collection, and fiduciary recommendations for LP document changes.
The notice invites potential vendors to submit a capability statement by Tuesday, September 9, 2025, at 3 PM ET to David Feliciano-Merino via email. The contract will be managed with full discretion, comply with OFAC regulations, and include ERISA fiduciary responsibilities. JP Morgan will be responsible for proxy voting, record-keeping, working with PBGC's custodian bank, facilitating securities transactions, and ensuring best execution including foreign exchange. The government retains sole discretion on whether to compete the procurement based on received responses.
View the file
Other files
| File | Type | Posted |
|---|---|---|
| Statement_of_Work_(SOW) PMIMS - Draft.pdf |
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
Text version
PRESOLICITATION NOTICE OF INTENT FOR A SOLE-SOURCE ACQUISITION USING
SIMPLIFIED ACQUISITION PROCEDURES
Description: Private Markets Investment Monitoring Services
This is a notice of intent to award a sole-source contract and is not a request for competitive quotes.
The Pension Benefit Guaranty Corporation (PBGC) intends to award a sole-source purchase order using the procedures at FAR 13.106-1(b)(1), as it has been deemed that only one source is available to meet this specific requirement due to only one responsible source, and no other supplies or services will satisfy agency requirements. Based on discussions with potential vendors, firms that focus on cash flow tracking, performance measurement, reporting, gathering of LP documentation do not provide fiduciary advice on LP partnership changes and are not interested in doing so. The verified minimum requirement for this service is cash flow tracking, performance measurement, reporting and collection of LP documentation and fiduciary recommendations for changes to LP documents. The service needs to be provided continuously and should commence immediately after the current contract expires on 8/31/2025. The period of performance will be from 9/1/2025 – 8/31/2030.
This purchase order is intended to be awarded to JP Morgan for Private Market Investment Monitoring Services. Services required include monitoring inherited private asset Limited Partnership (LP) positions. All assets shall be managed with full discretion in accordance with the fund documents, the policies of PBGC, and the strategy and objectives mutually agreed upon between the investment manager and PBGC. The firm shall comply with the U.S. Department of Treasury, Office of Foreign Asset Control (OFAC) regulations. The investment manager shall have ERISA fiduciary responsibility for the assets under its management. PBGC shall delegate its proxy voting authority to the investment manager.
The investment manager shall maintain records of its votes and report the results, at least annually, to PBGC. The investment manager shall work closely with PBGC’s custodian bank to facilitate the efficient and timely recording of unit purchases, sales and other activity, reconcile securities and cash balances and provide information necessary to calculate performance results. The manager shall be responsible for best execution, including foreign exchange. The document required in the form of a Statement of Work (SOW) is attached to this notice.
This notice of intent is not a request for competitive proposals or quotations. Any party who believes they can perform this requirement should submit a capability statement for consideration by the government. A determination by the government not to compete this proposed contract based on responses to this notice is solely within the discretion of the government. Information received will be considered solely for the purpose of determining whether to conduct a competitive procurement.
The government will not be responsible for any costs incurred by responding to this notice.
A party may identify their interest and submit a capability statement by Tuesday September 9, 2025, at 3pm ET. Responses, including questions about this notice, shall be sent via email to David Feliciano-Merino at feliciano-merino.david@pbgc.gov.
mailto:feliciano-merino.david@pbgc.gov
File details come from the government source that posted it. Updated .