Private Markets Investment Monitoring Services

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.