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State of Alaska, Department of Law·Alaska

Request for Proposals - ARMB Outside Counsel

Closes 12/5/2025$7.5M – $150MRequest for Proposal
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Description

The State of Alaska, Department of Law, is seeking proposals from experienced law firms to provide legal services related to the Alaska Retirement Management Board's (ARMB) investment activities. The selected firm will provide legal review and advice on private market investments. The contract is expected to last for 3 years, with optional renewals. The ARMB makes between 5 and 10 private market investments per year, each averaging $50-100 million. • The budget for the contract is intended to cover the initial 3-year term, with any remaining funds potentially used for optional renewals. • The selected firm should have substantial expertise and experience in advising public pension funds. • Proposals should be submitted via email to [email protected] by the deadline.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Jedediah Smith(Procurement Officer)

[email protected] or [email protected]

(907) 465-4337

Key dates

Opened
10/28/2025
Closes
12/5/2025
Projected award
1/9/2026
Duration
3 years

Last updated

Details

Type
Request for Proposal
Industry
Financial Services
NAICS
541110
Solicitation №
RFP 2026-0300-0077

Budget estimate

$7,500,000 – $150,000,000

The budget for this opportunity can be estimated based on the average value of the private market investments made by ARMB. With 5-10 investments per year, each averaging $50-100 million, the total investment value per year is $250-1000 million. Assuming a 1-5% legal fee for these investments, the annual budget for the selected law firm could be $2.5-50 million. Over the 3-year contract term, this would translate to a total budget of $7.5-150 million. However, this is a rough estimate and the actual budget may vary depending on the specific services required and the fees negotiated.

AI estimate from the solicitation

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