APPLICATION TO SUBMIT TENDER FOR AN INTEGRATED PORTFOLIO MANAGEMENT AND DECISION SUPPORT SYSTEM FOR AP2:S PRIVATE EQUITY AND REAL ESTATE PORTFOLIOS

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Janel Houston
8 years ago
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1 APPLICATION TO SUBMIT TENDER FOR AN INTEGRATED PORTFOLIO MANAGEMENT AND DECISION SUPPORT SYSTEM FOR AP2:S PRIVATE EQUITY AND REAL ESTATE PORTFOLIOS 1.1 INTRODUCTION Applications to submit tenders regarding the procurement of a portfolio management and decision support system for the private equity and real estate portfolios at AP2 (Second Swedish National Pension Fund), which was advertised in TED on the 4 th of July 2014, shall be made in accordance with the procedure in this document. Please note that your application must be received by AP2 not later than the 15 th of August 2014 in the form and with the information described in this document. 1.2 AP2 (THE SECOND SWEDISH NATIONAL PENSION FUND) AP2 is one of five buffer funds within the Swedish pension system. AP2 shall maximize long-term return at low risk. The overall target is to optimize the Swedish pension assets for which it is responsible. AP2 was established in 2001 and is based in Gothenburg. The fund had total assets of SEK 265 billion under management as per the 31 st of December of AP2 manages a global private equity portfolio with more than 60 funds and over 3 billion USD in commitments as well a real estate portfolio which includes both direct investments as well investments in fund format. 1.3 SCOPE OF TENDER AP2 requires an integrated portfolio management and decision support system for AP2:s private equity and real estate portfolios. The system should have capabilities to support and meet the needs in front- middle and back office in the entire life-cycle of an investment including relationship management, tracking transactions, reporting, monitoring, benchmarking, portfolio company information, and accounting. 1.4 DESCRIPTION OF THE PROCESS AND TIME PLAN The process will follow the time plan below: 1. The first step of the process is the application to submit a tender. Final date for receipt of applications to tender is: 15 th of August Final date for questions to AP2 is: 29 th of July Questions should be sent by to upphandling@ap2.se 1 (5)

National Pension Fund), which was advertised in TED on the 4 th of July 2014, shall be made in accordance with the procedure in this document.

2 3. AP2 will then invite up to 5 applicants from those that meet the conditions set forth herein to submit a tender in this procurement. Not all qualified applicants may therefore be invited. Final date for invitation to tender is expected to be: 15 th of September THE APPLICATION The application to submit a tender should include: - All documents and information required in this document. - Evidence to show that the application has been duly signed by authorized signatories of the applicant. The entire application should be delivered in paper format in a sealed envelope in two original copies. Please also supply a copy on two CDs or USB sticks in the sealed envelope. The application should be sent to AP2 clearly marked with Application to submit tender Private Investments Portfolio Management System. Applications sent by or fax will not be accepted. All documentation must be clearly marked with the title of the proposal and the name of the tenderer. The name, phone number, postal address and address of the contact person must also be clearly stated in the tender documentation on the very first page/cover page. The application should be received by AP2 not later than the 11 th of August Please send the application documents in a sealed envelope clearly marked Applications to submit tenders Private Investments Portfolio Management System to the following address: Second Swedish National Pension Fund / AP2 P.O. Box SE Gothenburg Sweden For hand delivery: Östra Hamngatan 26-28, Gothenburg. Applications received after the final date for receipt of applications to tender, 15 th of August 2014, will not be considered. 2 (5)

- Evidence to show that the application has been duly signed by authorized signatories of the applicant.

3 1.6 CONDITIONS FOR PARTICIPATION In order to qualify for participation in the tender process, the tenderers must meet both the statutory and the other conditions set out below. The application must also include the following documentation: 1. Financial statements (annual report or similar document) for the past three years. 2. A brief description of the company expressing interest in participating in the tender process and, if applicable, a description of its parent company. 3. A brief description of the portfolio management system and its capabilities in terms of work flow, investment accounting, reports, analysis (incl. peer group) and performance of portfolio companies in PE-funds STATUTORY CONDITIONS The statutory requirements are stated in LOU (The Swedish Public Procurement Act; 2007:1091) Ch Any service provider may be excluded from participation in a contract who: 1. is bankrupt or is being wound up, whose affairs are being administered by the court, who has entered into an arrangement with creditors, who has suspended business activities or who is in any analogous situation arising from a similar procedure under national laws and regulations; 2. is the subject of proceedings for a declaration of bankruptcy, for an order for compulsory winding-up or administration by the court or for an arrangement with creditors or of any other similar proceedings under national laws or regulations; 3. has been convicted of an offence concerning his professional conduct by a judgment which has the force of res judicata; 4. has been guilty of grave professional misconduct proven by any means which the contracting authorities can justify; 5. has not fulfilled obligations relating to the payment of social security contributions and taxes in accordance with the legal provisions of the country in which the entity is established or with those of Sweden; 6. is guilty of serious misrepresentation in supplying or failing to supply the information that may be required above. 3 (5)

A brief description of the company expressing interest in participating in the tender process and, if applicable, a description of its parent company. 3.

4 For 1-3 the tenderer shall as proof duly certify that none of the cases quoted above applies to the tenderer and for 5, a certificate issued by the competent authority in the relevant country (For Swedish companies, form RSV 4820 is issued by the Swedish National Tax Board, should be included OTHER CONDITIONS In addition to the statutory conditions set out above, the tenderer should meet the following conditions: a. AP2 s IT-infrastructure is mainly based on Microsoft products and integration of the solution with these products must be possible. b. The solution should be possible to offer as an ASP solution accessible through internet in a secured way, c. Standard interface ( for import and export) should be available d. Support workflows from front-to-back e. Individual security permits of duties for users f. Track characteristics of all investments including fund size, commitments etc. g. Dynamic definitions of each investment ( different levels to be able to build flexible portfolios of investments) h. Investment accounting - Track all portfolio and partnership transactions and be able to separate different types of cash flows. i. Be able to handle the valuation methods for private equity and real estate funds j. Sophisticated and flexible analysis and reporting included an ad hoc performance reporting. k. The system must fully multi-currency enabled. l. Facilitate both current and historical reporting. m. The decision making support should allow AP2 to compare separate funds (peer group analysis), portfolios with any private equity universe. AP2 requires that the system allows comparison with public market indexes (IRR spread, PME). n. The system should include information on the portfolio company level (for private equity, timber, real estate and agricultural funds) to achieving diversification reports (sector and geographic) based on company data. AP2 also requires reports of investment performance per portfolio company (multiple, cost, market value etc.). This means that the supplier of this system must be able to track all fund investments on entity level). 4 (5)

2 OTHER CONDITIONS In addition to the statutory conditions set out above, the tenderer should meet the following conditions: a.

5 For these conditions, please give a short explanation proving that the requested criteria are fulfilled. 1.7 OBJECTIVE CRITERIA FOR CHOOSING THE LIMITED NUMBER OF CANDIDATES A limited number of candidates will be chosen based on the following objective criteria: 1. Fulfilment of conditions for participation as specified in 1.6 above. 2. The portfolio management system should have a proven track record of servicing large asset managers and institutional investors (global portfolios). In order to be able to verify these objective criteria the tenderer should submit a list of large asset managers and institutional investors who currently use the system to manage their private equity portfolios, including how long they have been using the system (only anonymised if strictly necessary). 1.8 ADDITIONAL INFORMATION Please send your questions to: upphandling@ap2.se Answers to questions that arise during the application process will be distributed via e- mail to the respective contact persons at the tenderers. The final date for submitting questions will be on the 29 th of July (5)

Fulfilment of conditions for participation as specified in 1.6 above. 2.

APPLICATION TO SUBMIT TENDER FOR A FIXED INCOME PORTFOLIO MANAGEMENT SYSTEM

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