- Type
- technical
- Description
- Question 4C.1.2 of SPD:
Bidders are required to provide clear evidence of their track record, capacity for scaling operations, and market presence that align with the Bank’s specific requirements. Additionally, they must substantiate their claims by addressing each example of past experience outlined in point 8.3, ensuring their previous engagements directly reflect the scope and standards expected for this opportunity. This covers experience over the last 5 years.
Track Record
Outline your experience providing both Host AIFM and fund administration services, including evidence of operating these services in an integrated model.
Clearly articulate your organisation’s track record supporting institutional clients with similar structures (e.g. closed-ended funds, private markets vehicles, asset-backed funds).
Scale and Market Presence
Outline the scale and relevance of the organisation’s operations, including the number and nature of clients currently supported under a hosted AIFM mode similar in size to the banks’ requirements.
Provide evidence of assets under management (AUM) and assets under administration that reflect experience relevant to the Bank’s proposed fund structure.
Provide evidence that the organisation has the operational capacity and financial resilience to support a fund of the size and complexity envisaged by the Bank.
Provide Relevant Examples of the following:
Evidence of past experience delivering Host AIFM and administration services. Specifically:
Example 1 (Set-up): Evidence of supporting a client establishing a new AIFM structure and initial launch of funds, including regulatory set-up and governance design. As part of this, the example must show that the firm supported at least one fund launch, inc. structuring and operational readiness. Evidence should include timeline from mandate to first close, key challenges and role of the AIFM vs. the client.
Example 2 (Scaling Delivery): Evidence of supporting a client with multiple fund launches (min. 3) or a clearly scalable programme of fund launches over time. Through this, evidence is required that a consistent AIFM and administration framework was applied across the multiple funds. Evidence should include number of funds launched and timeframe; overview of fund strategies and asset classes; approach to scaling operations (systems, governance, resourcing); and how consistency and control were maintained across funds.
Evidence of past experience supporting private markets strategies, including private equity, private debt, infrastructure, or similarly illiquid asset classes as well as demonstrating familiarity with the operational, regulatory, and valuation complexities associated with such asset classes. Specifically:
Example 1 (Private Credit / Infrastructure): Evidence of the Bidder’s experience in delivering Host AIFM and administration services for funds investing in infrastructure projects and private credit. Responses should demonstrate an understanding of the operational and governance complexities associated with long-term, capital-intensive investments, including asset-level oversight and coordination across multiple stakeholders. Evidence should include a description of valuation approaches (inc. use of external valuers) and cash flow management for infrastructure investments and evidence of interest calculation, covenant tracking and impairment recognition for debt investments.
Example 2 (Unlisted Equity): Evidence of supporting a client which has funds investing unlisted equity investments. Evidence should include how the Bidder managed valuation uncertainty (inc. application of IPEV or equivalent valuation guidelines), managed investor reporting in the absence of observable market prices and managed key investment events including dilution / cap table changes and exit events.
- Minimum
- Pass = The bidder demonstrates, through clear and relevant evidence, sufficient and credible track record in delivering hosted AIFM and associated fund administration services of a similar nature, scale, and complexity to those required by the Bank, including providing 2 relevant examples for each element of i) delivery of Host AIFM services and ii) experience in private markets and illiquid asset structures.
Fail = The bidder fails to demonstrate an adequate track record in delivering services of a similar nature, scale, and complexity to those required by the Bank and fails to provide 2 relevant examples for each element of i) delivery of Host AIFM services and ii) experience in private markets and illiquid asset structures. This includes where supporting evidence is insufficiently detailed or where examples provided are too limited, too generic, or not sufficiently aligned to the Bank’s requirements.