Private Markets Investment Classes Audit Services

Oregon State Treasury

Buyer seeks an external firm to audit their Private Markets investments, specifically the Real Assets and Private Equity programs. The audit will evaluate governance, investment manager selection, legal compliance, risk management, and accounting operations. Buyer requires expertise in private markets investments and adherence to professional standards including GAAP, GAAS, GASB, COSO, and IIA Standards.

• 6/27/2025 - Questions/Clarification Request Deadline
• 7/7/2025 - Answers to Questions/Clarification
• 7/18/2025 - Proposal Due Date
• 8/11/2025 - Interviews/Presentations
• 8/25/2025 - Notice of Intent to Award
• 10/1/2025 - Real Assets Audit
• 2/1/2026 - Private Equity Audit

• Either CPA & CFA, or CIA & CFA Certification(s) for Partner/Director and Engagement Manager

• Audit governance and oversight processes for Private Markets investments
• Evaluate investment manager selection and due diligence procedures
• Review legal agreements and compliance monitoring processes
• Assess risk management and fiduciary monitoring systems
• Analyze investment accounting and operational controls
• Develop comprehensive risk and control matrices
• Conduct interviews with Private Market key stakeholders
• Verify data security compliance with Treasury standards
• Prepare detailed audit planning documentation
• Deliver final audit reports with management responses