Search for an administrator for the American-Ukrainian Reconstruction Investment Fund has begun
The US International Development Finance Corporation (DFC) has announced a request for information (RFI) to identify the company that will perform the functions of the administrator of the US-Ukrainian Reconstruction Investment Fund. About this informs Ministry of Economy of Ukraine.
“The fund administrator will take care of technical operations: accounting, documentation, transaction processing and compliance with regulatory requirements, while all investment decisions will be made exclusively by the fund’s board of directors with an equal number of representatives from both countries”, says the message.
The publication of the RFI is an initial step in the process of finding a qualified partner and is not the beginning of a formal tender process. Ukrainian companies that meet the qualification requirements can also submit their proposals. The final decision on the selection of the service provider will be made unanimously by the foundation’s board of directors, which will include three representatives each from the USA and Ukraine.
DFC invites suitably qualified companies to submit information on their experience in accounting and reporting of investment funds, ensuring regulatory compliance (in particular with respect to customer due diligence and anti-money laundering procedures), processing investment transactions, asset management, as well as implementing modern technological solutions for fund administration.
According to the released request for information, the service provider’s responsibilities will include the full administration of the fund: record keeping, limited partner relationship management, transaction processing, regulatory compliance and cash flow management. Also, the company must use a reliable technological platform with a high level of security, scalability and functionality for reporting, which will ensure the efficiency of fund operations.
The team should include specialists with proven experience in the field of administration of direct investment funds. Implementation of clear procedures for compliance with regulatory requirements, including financial monitoring protocols, as well as risk management systems, is expected. The documents are also required to present the structure of payment for the services of the administrator and the time frame of the implementation, indicating the key stages of implementation.
