MODIFICATION
R -- Post Venture Capital Distribution Management Services
- Notice Date
- 7/1/2005
- Notice Type
- Modification
- NAICS
- 523999
— Miscellaneous Financial Investment Activities
- Contracting Office
- Small Business Administration, Office of Administration, Office of Procurement and Grants Management, 409 Third Street, S.W., 5th Floor, Washington, DC, 20416
- ZIP Code
- 20416
- Solicitation Number
- SBAHQ-05-Q-0027
- Response Due
- 7/26/2005
- Archive Date
- 8/10/2005
- Point of Contact
- Maria Manga, Contract Specialist, Phone (202) 205-7036, Fax (202) 481-4324, - Maria Manga, Contract Specialist, Phone (202) 205-7036, Fax (202) 481-4324,
- E-Mail Address
-
maria.manga@sba.gov, maria.manga@sba.gov
- Small Business Set-Aside
- Total Small Business
- Description
- Office of Procurement & Grants Management 409 Third St. SW, Suite 5000 Washington, DC 20416 DATE: July 1, 2005 TO: Prospective Offerors FROM: Maria Manga U.S. Small Business Administration Office of Procurement & Grants Management 409 Third St. SW, Suite 5000 Washington, DC 20416 SUBJECT: Request for Proposal (RFP) SBAHQ-05-Q-0027, Post Venture Capital Management Services You are invited to submit a technical and price proposals separately for Post Venture Capital Management Services. Enclosed is a statement of work. We anticipate that the RFP will result in the award of a firm fixed-price type contract with One year with four one-year options. The closing date for receipt of proposals is July 26, 2005 at 14:00 pm eastern time. Proposals must be clearly identified as such on the envelope or package. Please provide five (5) hard copies of technical and cost proposals separetely. Deliver to the address set forth below: E-mailed proposals will NOT be accepted. Small Business Administration Office of Procurement & Grants Management 409 Third St. SW, Suite 5000 Washington, DC 20416 Attn: Maria Manga Any questions regarding this procurement should be directed to me at (202) 205-7036 or maria.manga@sba.gov. Thank you for your interest in SBA requirements. STATEMENT OF WORK INVESTMENT DIVISION POST-VENTURE CAPITAL DISTRIBUTION MANAGEMENT SERVICES PROGRAM BACKGROUND SUMMARY The Investment Division of the U.S. Small Business Administration (SBA) administers the Small Business Investment Company (SBIC) program. SBICs are privately-owned and privately-managed venture capital funds. These funds are licensed and regulated by the SBA and receive supplemental funding (leverage) from he SBA. As of April 13, 2005 there were 438 active SBICs, of which 328 receive leverage from the SBA. These licensees receiving leverage from the SBA are classified as either debenture (numbering 124) or participating securities (numbering 204) SBICs. Under the terms of the program, all SBICs must invest in small businesses. In FY 2004, SBICs reported 4400 investments in 2400 small businesses totaling $2.8 billion. Participating securities SBICs accounted for approximately half of these investments; however, no new participating securities SBICs are expected to be licensed. Under the participating securities portion of the program, the SBA may receive distributions from the SBIC in the form of marketable securities (in kind) in addition to cash. SBA has determined it needs assistance in the management and disposition of the marketable securities it will receive through these distributions. Participating Securities SBICs currently have approximately $15 billion in capital resources under management. Objective The Investment Division’s objective for in kind distributions is to achieve liquidity as soon as possible while minimizing SBA's risk of loss and giving consideration to the distribution’s upside potential. To accomplish that objective SBA is seeking to enter into a contractual arrangement with an organization which is knowledgeable about and proficient in the evaluation and trading of thinly traded equity securities and which has experience in the management of venture capital distributions. Term of the Contract One year with four one-year options. Scope of Contract The contractor will provide services associated with the management of distributions received by the SBA. Such services will include, but may not be limited to, conduct of research and valuation activities necessary to advise SBA as to whether securities qualify as “Distributable Securities”, as defined in 13 CFR 107.50, and to develop an appropriate liquidation strategy for each security under management; assumption of responsibility for liquidation decisions on a discretionary basis, subject to SBA’s objectives and direction; trading of securities; establishment and maintenance of third-party relationships necessary to conduct activities under the contract and satisfy SBA’s overall objectives; and preparation of reports to SBA concerning transactions and the status of securities under management. The contractor will provide SBA with same-day notice by telephone, facsimile, and email of any sale of securities, including price and quantity of shares sold. The contractor will prepare a monthly activity report containing complete information on each transaction concluded, including any gain or loss on disposition of securities as well as the current market value and the contractor’s estimate of the time frame for each security under management. The contractor shall deliver this monthly report both in paper copy and electronically in Microsoft Word one copy of this report no later than 10 calendar days after the end of the month. In addition, the contractor will prepare quarterly and annual activity reports containing a summary of transactions during the period, the contractor’s evaluation of the securities awaiting disposition as of the end of the period, and the costs charged to SBA under the contract, both for the period and on a cumulative basis through the end of the period. This contractor shall deliver this quarterly report both in paper copy and electronically in Microsoft Word one copy of this report no later than 10 calendar days after the end of each quarter. Place of Performance/Travel The contractor shall perform the duties listed herein at its place of business. The contractor shall travel to the Investment Division’s place of business located at SBA headquarters as requested. Confidentiality and Disclosure All information obtained by the contractor from SBA and licensees shall be disclosed only to SBA personnel and shall not be used for any reason by the contractor and staff other than performance of its duties required hereunder. The contract or shall sign a confidentiality agreement to ensure the contractor safeguards the information provided by the SBA or prepared by the contractor with regards to this contract. All working papers, notes, photocopies and other materials produced and received by the contractor will be kept by the contractor but are subject to review by SBA, its auditors and designees. All software purchased and databases created and populated for use under this contract will become the property of SBA. Contract Award Evaluation will be conducted and selection will be made in accordance with the guidelines provided in the Federal Acquisition Regulations (FAR). Award will be made to the party whose cost proposal represents the best value to the Government considering quality of the technical proposal and relative cost. Pursuant to FAR, the SBA reserves the right to award a contract based upon initial responses submitted and without any further discussions with the potential awardees. SECTION M – EVALUATION AND AWARD CRITERIA The following technical/cost factors will be used for determining technical acceptability and realistic price/cost. 1. TECHNICAL EVALUATION CRITERIA The contractor shall have demonstrated significant experience in several related areas, including research on publicly traded venture-backed companies, the valuation of those companies, experience in trading illiquid and thinly-traded stocks and experience in designing and implementing administrative support systems for distribution management activities. The contractor shall have significant client experience in the management of in-kind distributions from venture capital partnerships to third party clients, including large pension funds, large endowments and other institutional clients. Ideally, the contractor should possess at least 10 years experience offering distribution management services to limited partners of venture capital firms; 10 years experience in the design and implementation of sell/hold investment strategies for corporations, pension funds, retirement plans, endowments, foundations and wealthy individuals; experienced and full-time staff dedicated to the management of distributed assets; 10 years experience in the research of venture capital backed companies prior to the IPO process, including company and industry fundamentals, competition and management. Capabilities should include the ability to conduct field research on valuations of the venture-backed companies; 10 years experience in the design, implementation and operation of administrative support and information systems dedicated to distribution management clients; 10 years experience in the trading of illiquid and thinly traded stocks, including experience in the trading of venture capital backed companies; experience in the selection of distribution agents, the establishment of custodial accounts for institutional clients and the logistics and controls required in the transfer of marketable securities; experience in the coordination of the distribution agents and the custodian receipt and controls of marketable securities; and administrative support and information systems specifically designed to monitor the transfer and accounting of securities distributions. The following rating method shall be used in the evaluation of the technical experience and expertise of the offeror: Excellent - Based on the offeror's experience and expertise, no doubt exists that the offeror will successfully perform the required effort. The experience and expertise show a complete understanding of the Statement of Work and a demonstrated capability to perform it. Good – Based on the offeror's experience and expertise, little doubt exists that the offeror will successfully perform the required effort. The experience and expertise show an acceptable understanding of the Statement of Work and a demonstrated capability to perform it. Marginal – Based on the offeror's experience and expertise, some doubt exists that the offeror will successfully perform the required effort. The experience and expertise show a marginal understanding of the Statement of Work and a limited demonstrated capability to perform it. Poor – Based on the offeror's experience and expertise, serious doubt exists that the offeror will successfully perform the required effort. The experience and expertise show significant deficiencies in understanding of the Statement of Work and no demonstrated capability to perform it. An offeror must receive a rating of good or excellent to be considered technically acceptable. 2. PRICE/COST EVALUATION CRITERIA The evaluation will be based on information supplied by the offeror and compared to its existing pricing methodology. Information will also be obtained from references provided by the offeror, as well as other relevant information obtained from other sources known to the Government. The evaluation will consider: (1) the realism of the proposed cost to the requirements, (2) the realism of proposed costs to current industry practices, and (3) the realism of proposed costs compared to actual billed cost by the offeror on past performance. The following rating method shall be used in the evaluation of the Price/Cost Realism information: Excellent - Based on the offeror's proposal, no doubt exists that the offeror’s proposed price/cost is realistic. The Price/Cost documentation shows a complete understanding of the requirements, within the standards and workload specified. Good - Based on the offeror's proposal, little doubt exists that the offeror’s proposed price/cost is realistic. The Price/Cost documentation shows an acceptable understanding of the requirements, within the standards and workload specified. Marginal - Based on the offeror's proposal, some doubt exists that the offeror’s proposed price/cost is realistic in one or more areas in the criteria. The Price/Cost documentation shows a marginal understanding of the requirements, within the standards and workload specified. Poor - Based on the offeror's proposal, serious doubt exists that the offeror’s price/cost is realistic. The Price/Cost documentation demonstrates significant deficiencies in understanding the requirements, within the standards and workload specified. An offeror must receive a rating of good or excellent to be considered acceptable under this criteria. 3. SOURCE SELECTION The evaluation will result in identification of technically acceptable proposals. To be acceptable, an offeror must be evaluated as good or excellent in both the technical evaluation and the price/cost criteria. NOTE: NOTE: THIS NOTICE WAS NOT POSTED TO WWW.FEDBIZOPPS.GOV ON THE DATE INDICATED IN THE NOTICE ITSELF (01-JUL-2005); HOWEVER, IT DID APPEAR IN THE FEDBIZOPPS FTP FEED ON THIS DATE. PLEASE CONTACT fbo.support@gsa.gov REGARDING THIS ISSUE.
- Web Link
-
Link to FedBizOpps document.
(http://www.eps.gov/spg/SBA/OOA/OPGM/SBAHQ-05-Q-0027/listing.html)
- Place of Performance
- Address: U.S. Small Business Administration 409 Third Street, SW Washington, DC 20416
- Record
- SN00840716-F 20050703/050701211807 (fbodaily.com)
- Source
-
FedBizOpps.gov Link to This Notice
(may not be valid after Archive Date)
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