Provision of Services for Key Monitoring Parameters Input, Validation and Control

Description

The EIF is looking for a service provider operating in the financial sector that will perform the input of the Key Monitoring Parameters (KMP) for equity transactions in the EIF corporate information system, perform checks, amend and update existing transactions where necessary. The purpose of this call for tenders is to enable the Front Office Business Support (FOBS) Division and the Operations and Information Management department (OIM) to manage the extended volumes of the related activities in the coming years, obtaining cost reductions and ensuring high quality standards. The Key Monitoring Parameters (KMP) is the process whereby EIF introduces the relevant economic and investment policy terms per equity transaction in the EIF corporate information system, to monitor and control that an intermediary is compliant with key obligations ahead of any payment and upon quarterly monitoring of the developing portfolio. The KMP process has been designed to allow for a certain degree of automation to be introduced during the monitoring process. These parameters are typically outlined for equity transactions in limited partnership (or other similar fund) agreements and EIF side letters, i.e., the legal binding documents between a fund or a financial intermediary and EIF (as an investor into a fund). During the life of a transaction, monitoring is being carried out by the Investment Compliance and Eligibility Division team in OIM who ensures that the portfolio companies and generally the fund is compliant with investment policy and other provisions (distribution waterfall, reporting timeline, applicable fees etc.) that are contractually agreed (and reflecting relevant mandate requirements). More detailed description of the services is provided in the terms of reference.