Legal Services for Retirement Systems

The vendor is required to provide legal services for retirement systems the following services:
• Review and negotiation of the terms of investment-related documents (e.g., limited partnership agreements, fund subscription documents, and investment management agreements for separately managed accounts).
• Drafting and negotiation of side letters with investment fund managers.
• Advice on domestic, foreign and international laws, regulations and guidance concerning investment transactions.
• Analysis and evaluation of governance, legal, commercial, and other terms relating to investments in private equity funds, hedge funds, venture capital funds, hybrid funds, and the like.
• Negotiation of co-investments.
• Negotiation of secondary market transactions.
• Preparation and filing of required documents with federal, state and corporate entities.
- This engagement is expected to include, but not necessarily be limited to, the following:
• Reviewing investment-management fund offerings, contracts and commitment terms, including but not limited to language in such instruments relating to indemnification, confidentiality and jurisdiction;
• Evaluating conflict-of-interest disclosures completed by fund managers;
• Analyzing valuation processes used by funds; (d) identifying any limitations regarding share redemptions; and
• Analyzing investments and firm and partnership structures for due diligence assessments.
- Contract review will cover both amendments to existing contracts and future contracts by one or more systems with investment managers and include draft contract language to address concerns about exposure to business risks, such as investments in derivatives and the use of short-selling.
- This engagement may also include the following:
• New custodial and securities lending agreements with their bank custodian,
• Interest rate swap agreements with two commercial banks, and
• Derivative authorization trading agreements with a third-party broker.
- Contract Period/Term: 2 years
- Questions/Inquires Deadline: May 15, 2025