Irish NPRF seeking real estate, pvt equity admin
IRELAND - The National Treasury Management Agency (NTMA) is looking for administrative support for the National Pension Reserve Fund's property and private equity portfolios.
Having invested in these asset classes since last year, the NTMA has administered and managed the €234m property and the €41m private equity portfolios itself as it was "building up this programme", a spokesperson for the agency said.
The new tender is divided into two lots. The first is to provide a computer system for fund accounting for investments and related transactions, fund valuations and reporting, performance analysis and risk management, and deal flow and investment management.
The second lot is set for the provision of "associated business services" with regards to property and private equity accounting.
The NTMA said that it prefers an integrated solution that encompasses both computer systems and services, but added that it recognises "that no one tenderer may be able to meet all of its requirements".
Also the agency said that it "recognises that there may be potential tenderers who specialise in the provision of solutions for individual components of the requirements outlined above," and hence it will accept proposals for subsets of its requirements accordingly.
The portfolios in the two asset classes are set to grow to €2bn in the next three years, the spokesman said, adding: "We have an 8% target".
The mandate will be awarded to the most economically advantageous tender, also in terms of the individual requirements; tenderers can request to participate in the project until November 16.