PMIMS RFI Questions.docx
DOCX document 23 KB Posted
- Attached to
- Private Markets Investment Monitoring Services
- Solicitation number
- RSD-25-0001
- Issued by
-
Pension Benefit Guaranty Corporation
About this file
This document is a Request for Information (RFI) for Private Markets Investment Monitoring Services issued by the Pension Benefit Guaranty Corporation (PBGC). The RFI seeks detailed capabilities from potential investment management firms in monitoring inherited private asset Limited Partnership (LP) positions, with nine specific questions covering areas such as LP agreement modifications, document management, monthly reporting, capital call directives, stock liquidation, and secondary sales assistance. Key requirements include providing comprehensive reporting on committed capital, unfunded commitments, transaction details, and adjusted valuations, with firms expected to serve as a fiduciary and maintain close contact with PBGC's Corporate Investments Department.
The solicitation (RSD-25-0001) requires the selected investment manager to have full discretion in asset management, comply with Treasury regulations, and maintain ERISA fiduciary responsibility. Critical responsibilities include proxy voting, working with PBGC's custodian bank, ensuring best execution, and promptly reporting significant organizational changes. Responses to the RFI questions are due by 2 PM Eastern on April 28, 2025, with the potential contract covering ongoing investment monitoring and management of private market partnerships that may episodically increase in size based on inherited pension plan assets.
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| File | Type | Posted |
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| Statement of Work.docx | DOCX document |
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Questions for PMIMS Request for Information
1) Describe your firm’s capabilities in terms of providing recommendations of Limited Partner (LP) agreement modifications while serving as a fiduciary for PBGC.
2) Describe your firm’s capabilities in terms of preparing direction letters/directives for PBGC’s signature to appropriately direct capital calls, fees, and cash and stock distributions.
3) Describe your firm’s capabilities in terms of gathering, retaining and reviewing LP documents from GPs and/or their representatives, such as performance reports; audited and unaudited financial statements; limited partnership agreements; amendments; capital account statements; and annual reports.
4) Describe your firm’s capabilities in terms of providing monthly reporting services for private market LPs to include the following:
A. Committed capital reporting (Partnership name, Closing Date, Percent owned, Net Assets, Base Currency Commitment, Percent Owned) B. Unfunded commitment reporting (Partnership name, Adjusted Commitment, Contributions, Net Capital Contributed, Unfunded, Percent Funded) C. Transaction reporting (Partnership name, Date of transaction, Funding – Contributions, Cash Distributions, Stock Distributions, Net Cash Flow).
D. Adjusted Ending Value reporting (Partnership name, Valuation date, Reported Valuation, Adjustments, Adjusted Valuations).
5) Is your firm capable of adding new LPs to the reporting database?
6) Describe your firm’s approach to pricing LP monitoring and reporting services. Would your firm price these services by phases, by partnership, or by AUM?
7) Describe your firm’s capabilities in terms of liquidating distributed stock as a fiduciary.
8) Is your firm capable of assisting with secondary sales of LPs?
9) Describe your firm’s approach to pricing in terms of assisting with secondary sales of LPs.
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