City of Bethlehem Aggregated Pension Fund
Middle Market Private Debt Fund Management
Responses due by 4 pm ET, Thursday March 26, 2020
The City of Bethlehem with approximately $160 million in aggregated pension plan assets, is soliciting proposals for qualified investment companies to manage an allocation of approximately $5-$7 million in middle-market private debt fund. It is expected that the City will engage two managers for a total allocation of
$10-$14 million. The Authority is not seeking credit hedge funds, fund of funds, infrastructure funds, real assets funds, or Act '40 mutual funds.
In conjunction with this Requst for Proposal (RFP), the City has engaged the investment consulting services of Morrison Fiduciary Advisors, Inc. to assist in the evaluation process. Morrison is a fee-only, institutional investment consulting firm with no affiliation with any money manager or broker dealer, which allows Morrison to be completely objective when advising the Plan.
The RFP is issued in accordance with the requirements set forth in Pennsylvania
Act 44 of 2009 and any potential vendor should familiarize themselves with this Act and conform to its specific requirements including complete an Act 44 disclosure form as part of its response to this RFP. A copy of this RFP can be found at www.morrisonadvisors.com.
The City as the right to consider all factors and take any actions to ensure the Fund obtains the best possible manager evaluation result. These City actions include the City's right to negotiate proposals received, amend the RFP process, accept additional proposals, consider information not contained in the original proposals and consider all factors in addition to price.
All bids are posted on PennBid at http://PennBid.ProcureWare.com.
All awarded bids can be found on the PennBid website at http://PennBid.ProcureWare.com.