PBGC - Pre-Solicitation Notice - Real Estate Investment Trust (REIT) Management Services

The Pension Benefit Guaranty Corporation (PBGC) is seeking an investment management contractor to provide active management services for its Real Estate Investment Trust (REIT) equity portfolio through a Request for Proposal anticipated to be released in January 2026. The contractor must demonstrate a sound investment philosophy, SEC registration, ERISA fiduciary responsibility, and the capability to manage a portfolio with allocations ranging from $250–500 million while outperforming the FTSE Nareit Equity REITs Index on a risk-adjusted basis. Key qualifications include maintaining an investment team with at least one member possessing five years of REIT equity experience, providing robust research resources, implementing effective portfolio risk monitoring, and establishing comprehensive middle and back-office compliance departments. The contractor must also maintain specific insurance coverages, including a $10 million fidelity bond, $10 million errors and omissions coverage, and $5 million cyber liability insurance within six months of award. Contractors are advised that they must maintain an active Federal Government contracts registration in the System for Award Management (SAM) at sam.gov to be eligible for award, and questions and answers will be available during the official solicitation phase rather than in response to this pre-solicitation notice.

This procurement carries no set-aside designation and does not identify any current incumbents. The draft contract sections indicate an anticipated portfolio value between $250–500 million, though no specific contract award value or total contract duration has been disclosed in this pre-solicitation phase. Contractors will be required to meet semi-annual meetings with PBGC's Corporate Investments Department, provide monthly electronic reports, facilitate asset transitions, and notify PBGC promptly of any significant changes in personnel, ownership, or firm direction. Additional contractual obligations include providing up to six educational conference slots at no additional cost, maintaining disaster recovery planning capabilities, ensuring all electronic and information technology products meet Section 508 accessibility standards, and complying with stringent cybersecurity and data protection protocols. This notice does not constitute a request for information or proposal and carries no commitment from the Government; interested parties should monitor sam.gov for the official RFP release in January 2026.