Smaller Asset Managers Pilot Program

INTENT TO SOLE SOURCE NOTICE This notice is in accordance with FAR Subpart 5.2, Synopses of Proposed Contract Actions. The Pension Benefit Guaranty Corporation (PBGC), Procurement Division is the contracting office for this procurement. The purpose of this notice is to announce the intent to award a firm-fixed-price contract on a sole source basis to Longfellow Investment Management Co., LLC (DUNS: 781925029) in accordance with FAR Part 12 and FAR Subpart 13.501. The investment manager is to provide active investment management service for a US core fixed income portfolio that will, over a full market cycle, provide a total rate of return which exceeds the benchmark of the respective portfolio, consistent with appropriate levels of risk. Investments for this mandate may include fixed income products that are obligations of domestic (U.S.) issuers and international developed market issuers. The contractor shall exercise best efforts to select securities suitable and appropriate to the PBGC's mission. Diligent effort shall be exercised to avoid the purchase of a security where the PBGC is likely to terminate the issuer’s underfunded pension plan. The services provided are highly specialized and not inherently governmental in nature. They are also consistent with PBGC Resolution 2015-13, where the Board directed PBGC to create a pilot program. This program sought to reduce competition barriers faced by such firms while maintaining rigorous investment risk and control standards. In June 2016, PBGC selected five firms for the pilot program that would be expected to outperform the portfolio benchmark (BBG Barclays Aggregate Bond Index) over a full market cycle of highs and lows at an acceptable level of risk. It is anticipated that contract award will be issued on or before January 1, 2021, with a one (1) year base period from January 1 , 2022, through December 31, 2022 . The applicable NAICS Code is 523920 (Portfolio Management). This is NOT a request for competitive quotes. This notice of intent is for informational purposes only. However, all interested parties may submit their capability statements for the required services, which shall be considered by the agency if received by the Points of Contact (POC) listed below by 3:00 PM, EDT, November 23, 2021 (reference Solicitation No. 16PBGC22Q0010.) . A determination to compete the proposed procurement based upon responses to this notice is solely with the discretion of the Government. POCs: Heather Poindexter, Contracting Officer at [email protected] and Angela Dorsey, Contract Specialist, at [email protected]. Oral communications will not be accepted in response to this notice.