Private Markets Investment Monitoring Services
Closed Pre-Solicitation Posted
- Solicitation number
- RSD-25-0001
- Responses due
- Set-aside
- No set-aside
Opportunity facts
- NAICS code
- 523940 Portfolio Management and Investment Advice
- PSC
- R710 Support- Management: Financial
- Place of performance
- Washington, District of Columbia, United States
- Points of contact
Notice details come from SAM.gov. Updated .
About this opportunity
The Pension Benefit Guaranty Corporation (PBGC) is seeking a private markets investment management firm to monitor and manage inherited private asset Limited Partnership (LP) positions across three investment portfolios totaling approximately $1.9 billion. The contractor will be responsible for comprehensive investment monitoring services, including processing capital calls and distributions, preparing performance reports, managing distributed stocks, and attending general partner meetings. Key contract requirements include acting as a fiduciary, complying with OFAC regulations, and maintaining 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 and complete ERISA fiduciary responsibilities, including proxy voting and reporting. Responses to the Request for Information (RFI) are due by 2 PM Eastern on April 28, 2025, with the potential contractor expected to provide extensive investment research, economic insights, and management support.
The pre-solicitation notice indicates no specific set-aside designation for the contract, meaning it is open to all qualified vendors in the Portfolio Management and Investment Advice sector. The portfolios encompass limited partnerships from vintages 1986 to 2016, including diverse investment structures such as buyouts, venture capital, real estate, and debt instruments. While no specific incumbent is mentioned, the contract will require sophisticated investment management capabilities and extensive experience in handling complex, multi-vintage private market assets. The investment manager will be responsible for managing assets with potential episodic growth, as new terminated pension plans may significantly increase the portfolio size. The contract will require comprehensive reporting, including monthly and quarterly performance analyses, capital commitment tracking, and detailed transaction documentation, with the expectation of maintaining ongoing communication and transparency with PBGC's investment team.
Notice text
NOTE: Please submit responses to the attached Request for Information (RFI) questions to the Contracting Officer not later than 2 PM Eastern on April 28, 2025.
The investment management organization retained under contract by PBGC is responsible for monitoring inherited private asset Limited Partnership (LP) positions. LP asset values may vary widely in the future depending on whether pension plans that are terminated in the future, have large allocations to Private Assets that PBGC inherits. The commingling of new Private Market partnerships is episodic, and experience has shown that commingling one large plan can quickly increase the size of the PBGC-only pool by multiples or result in the addition of another Commingled Master Trust.
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 Department of Treasury, Office of Foreign Asset Control regulations.
PBGC shall receive any of the investment manager's internal or external investment, market and economic research training materials and support capabilities and services in the performance of PBGC’s investment responsibilities.
The investment manager shall maintain close contact with PBGC’s Corporate Investments Department and shall serve as a source of economic and investment information and research.
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 investment manager shall also be responsible to notify PBGC of significant changes in personnel, ownership, resources, or firm direction within 10 business days of any said change.
Please find the draft Statement of Work for reference.
NOTE: Please submit responses to the attached Request for Information (RFI) questions to the Contracting Officer not later than 2 PM Eastern on April 28, 2025.
Files
| File | Type | Posted |
|---|---|---|
| PMIMS RFI Questions.docx | DOCX document | |
| Statement of Work.docx | DOCX document |
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