RFP 2026-0400-0239 Institutional Investing Legal Services

The Alaska Permanent Fund Corporation (APFC) issued RFP 2026-0400-0239 on March 26, 2026, seeking proposals from experienced and well-qualified law firms to provide institutional investing legal services. The APFC, which manages approximately $87 billion in assets as of January 31, 2026, requires outside legal counsel to advise on matters directly or indirectly related to the Corporation's investment activities across multiple asset classes including private equity, infrastructure, real estate, derivatives, and securities. The RFP offers two distinct lots: Lot 1 for Full Service Legal Counsel covering funds, most-favored-nation selections, tax matters, secondaries, securities regulation, investment management agreements, derivatives, and lending and banking matters; and Lot 2 for Specialized Legal Counsel focusing on derivatives, mortgage-backed securities, and structured products. Lot 1 applicants must demonstrate a minimum of fifteen years in business and ten years of experience representing large institutional investors, with lead attorneys requiring ten years' experience in structuring alternative investments. Lot 2 applicants must have been in business for at least ten years with a lead attorney possessing ten years of specialty experience and three partners each having five years' experience in the applicable area. Proposals must be submitted electronically to procurement@apfc.org no later than 2:00 PM Alaska Standard Time on April 16, 2026, with vendors responsible for confirming receipt. The contract term will run from June 1, 2026, through May 31, 2031, with five one-year renewal options available. A Notice of Intent to Award is anticipated on May 6, 2026, with contract execution targeted for June 1, 2026. Submittal forms, including firm experience and qualifications (not to exceed five pages), firm organization and resources (not to exceed five pages), and lead attorney and key project personnel information (not to exceed five pages), must be completed and submitted without identified proposed costs.

Qualification preferences are available to offerors holding a valid Alaska business license prior to the proposal deadline, including Alaska Bidder Preference (5% discount), Alaska Veteran Preference (5% discount, not to exceed $5,000), and Alaska Military Skills Program Preference (2% discount, not to exceed $5,000). Pricing for this as-needed contract will be negotiated based on hourly rates for attorneys at various levels including lead attorney, senior attorneys/partners, and junior attorneys/associates, with all direct and indirect costs such as payroll, supplies, and overhead to be included in the cost proposal. No specific contract amount has been designated, and contract approval is contingent upon legislative appropriation. Professional liability insurance is required with minimum limits ranging from $300,000 to $1,000,000 depending on contract value. All services must be performed in the United States unless specifically related to foreign investments and authorized by the APFC. The contract is governed by the Alaska Procurement Code (AS 36.30) and state standard agreement terms, with no incumbent vendors or current contractors identified in the solicitation documents.