Minnesota State Board of Investment - Private Markets Index and Benchmarking Services RFP (2026)
Minnesota State Board of Investment | State of MinnesotaState · St. Paul, MN- Due
- Nov 25, 2026
- 10 days left
- Posted
- Nov 2, 2026
- Contract term
- 1 year
- Primary contact
- Cassie Boll And Jon Stacy
The 30-second brief
The Minnesota State Board of Investment (SBI) seeks proposals for private markets index and benchmarking services to support performance measurement and portfolio evaluation. The selected provider must have institutionally recognized index and benchmark solutions spanning private equity, private credit, real estate, and real assets. Services include accessing benchmark suites, benchmarking individual funds against peer groups using Internal Rate of Return (IRR), Total Value to Paid-In Capital (TVPI), Distributed to Paid-In Capital (DPI), and Public Market Equivalent (PME), and constructing customized time-weighted return benchmarks. Proposals are due by November 25, 2026, at 5:00 PM Central Time, with questions due November 9, 2026. The contract term is anticipated from February 2027 to February 2028, with up to four additional one-year extension options.
Index Availability 400 points, Technology 150 points, Support 150 points, Cost Detail 300 points, Preference Points (if applicable) 120 points
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Summary
The Minnesota State Board of Investment (SBI) seeks proposals for private markets index and benchmarking services to support performance measurement and portfolio evaluation.
The selected provider must have institutionally recognized index and benchmark solutions spanning private equity, private credit, real estate, and real assets. Services include accessing benchmark suites, benchmarking individual funds against peer groups using Internal Rate of Return (IRR), Total Value to Paid-In Capital (TVPI), Distributed to Paid-In Capital (DPI), and Public Market Equivalent (PME), and constructing customized time-weighted return benchmarks. Proposals are due by November 25, 2026, at 5:00 PM Central Time, with questions due November 9, 2026. The contract term is anticipated from February 2027 to February 2028, with up to four additional one-year extension options.
EVALUATION CRITERIA
5- Index Availability 400 points
- Technology 150 points
- Support 150 points
- Cost Detail 300 points
- Preference Points (if applicable) 120 points
REQUIRED ATTACHMENTS
Attachment A: Responder Declarations, Attachment B: Exceptions to State's Standard Terms and Conditions, Attachment C: Cost Proposal, Attachment D: Responder Forms (Veteran-Owned Preference Form, Workforce and Equal Pay Declaration Page)
- Submit to
- [email protected]
- Duration
- 60 months
- Scope location
- St. Paul, Minnesota
- Reported agency
- Minnesota State Board of Investment
Questions about this RFP
How do I respond to this RFP from Minnesota State Board of Investment | State of Minnesota?
Review the full solicitation document for submission requirements, evaluation criteria, and deadlines. The submission deadline is November 25, 2026. Be sure to include all required attachments as outlined in the solicitation. Submissions should be delivered to: [email protected]. For questions, contact Cassie Boll And Jon Stacy.
Can small businesses or minority-owned firms bid on this RFP?
Most government agencies, including Minnesota State Board of Investment | State of Minnesota in MN, encourage participation from small businesses, minority-owned, women-owned, and disadvantaged business enterprises (MBE/WBE/DBE). Check the full solicitation for any small business participation goals.
What happens after the RFP submission deadline?
After the deadline, the issuing agency reviews all submissions against the stated evaluation criteria. This typically includes a compliance check, technical evaluation, cost analysis, and may involve oral presentations with shortlisted vendors.
Can I ask questions about this solicitation before submitting?
Yes, most solicitations allow vendors to submit questions during a designated period. The primary contact is Cassie Boll And Jon Stacy. Questions and answers are typically shared with all prospective bidders.
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What are the evaluation criteria for this solicitation?
This solicitation includes specific evaluation criteria that will be used to score proposals. The criteria include: "Index Availability 400 points, Technology 150 points, Support 150 points, Cost Detail 300 points, Preference Points (if applicable) 120 points" Vendors should carefully align their proposals with each criterion to maximize their score.
Where can I find more RFPs from Minnesota State Board of Investment | State of Minnesota?
All active and historical solicitations from Minnesota State Board of Investment | State of Minnesota are tracked and searchable. As a state agency, Minnesota State Board of Investment | State of Minnesota regularly publishes solicitations. Visit the agency profile to see current open bids, past contracts, vendor relationships, and decision-maker contacts.
What is the contract term for this solicitation?
The anticipated contract term is 1 year. Contract terms may include renewal options.
Is this solicitation still open for submissions?
Based on the posted deadline of November 25, 2026, this solicitation appears to still be accepting submissions. Deadlines may change through amendments or addenda, so always verify the current status directly with the issuing agency before preparing your response.
What documents are required to bid on this RFP?
Requirements vary by solicitation, but common documents include a technical proposal, cost/price proposal, proof of insurance, relevant certifications, past performance references, and any forms specified in the solicitation. This solicitation specifically requires the following attachments: Attachment A: Responder Declarations, Attachment B: Exceptions to State's Standard Terms and Conditions, Attachment C: Cost Proposal, Attachment D: Responder Forms (Veteran-Owned Preference Form, Work. Review the full document from Minnesota State Board of Investment | State of Minnesota for the complete list.
What is the scope of this project?
This solicitation defines a specific project scope. The scope covers the following locations: St. Paul, Minnesota. Review the full solicitation for detailed scope requirements.
