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