Investment Advisory and Fee Monitoring Services

The Vendor is required to provide expert fiduciary investment assistance, advice, and consulting services relating to investments and data collection and validation services relating to investment management fees.
- System anticipates monthly private markets operational due diligence (“ODD”) requests.
- ODD shall include assessments of the following categories, as applicable to the investment:
• Disclosure of information
• Manager organization
• Background checks
• Compliance resources and policy
• Investment operations
• Infrastructure and business continuity
• Fund terms and governance
• Custody and counterparties
• Valuation
• Review of financial statements
- Initial Due Diligence (IDD) shall include assessments of the following categories, as applicable to the investment:
• Conviction level
• Expected alpha, beta, and risk
• Strategy and investment process
• Management and team
• Risk process
• Track record
• Portfolio
• Terms
- Quantitative Due Diligence (QDD) shall include assessments of the following categories, as applicable and available to the investment:
• Performance Metrics
• Cash Flow and Performance
• Summary of Deals
• Portfolio Companies
• Fund Exposure
• Investment Outcomes
• Total Investment vs. Performance
• Performance of Companies
• Value Bridge of Reporting Companies
• Return Attribution
- Fee Monitoring Services
- Contractor shall aggregate fee data on a quarterly basis and recalculate fees on an annual basis for approximately 80-100 public and 750-800 private funds’ management fees, carried interest (realized & unrealized), and other fund expenses allocated to system for purposes of ensuring compliance with the terms and conditions of all agreements between system and the general partner.
- Maintain detailed records of all transactions, serve as record-keeper, and support state staff for all needs related to program accounting;

- Contract Period/Term: 1 year