IFB CSAC-24-01 MMA Benefit Fund

The California State Athletic Commission (CSAC), part of the Department of Consumer Affairs, is seeking investment and asset management services for its Professional Mixed Martial Arts Benefit Fund through Invitation for Bid (IFB) CSAC-25-01. The procurement aims to secure a qualified investment services provider to manage a defined contribution fund established on January 1, 2024, with an initial asset value of approximately $55,745.18. The contract will run from July 1, 2025 through June 30, 2028, with key deliverables including account transition, portfolio selection, performance reporting, and quarterly meetings with CSAC. Mandatory minimum qualifications require bidders to be registered to do business in California, have at least $250,000,000 in retirement plan assets under management, and demonstrate experience with a public pension fund within the last five years. Bidders must be a registered investment advisor, bank, or insurance company. Critical procurement dates include March 27, 2025 as the final deadline for written questions, April 8, 2025 for bid submission, and April 9, 2025 for a public bid/cost opening. The contract will be awarded to the lowest responsive and responsible bidder.

The solicitation includes provisions for small business preference, offering a potential 5% preference for small businesses or non-small businesses that subcontract at least 25% to California-certified small businesses. Currently, Disabled Veteran Business Enterprise (DVBE) participation goals are waived for this solicitation. The fee structure will be percentage-based, not exceeding 2% of client assets annually. Eligible respondents are limited to registered investment advisors, banks, and insurance companies that meet the specified qualifications. While no incumbent vendor is mentioned, the solicitation emphasizes the need for a smooth transition of the existing fund assets. The initial fund value of $55,745.18 suggests a relatively small but potentially growing investment portfolio. Prospective vendors should be prepared to demonstrate expertise in managing public sector retirement funds and ability to provide comprehensive investment and asset management services tailored to the specific needs of the California State Athletic Commission's Benefit Fund.