Buy and Maintain Credit Manager Search for South Yorkshire Pensions Authority

Buy and Maintain Credit Manager Search for South Yorkshire Pensions Authority

The Scheme requires an investment manager for a Buy and Maintain credit portfolio with an estimated value of 5 % of the Scheme’s assets.

United Kingdom-Manchester: Banking and investment services

2014/S 248-439319

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

I.1)Name, addresses and contact point(s)

South Yorkshire Pensions Authority
c/o Mercer Limited, Belvedere, 12 Booth Street
Contact point(s): Investment Consulting
For the attention of: Kazmen Lian (Email only)
M2 4AW Manchester
UNITED KINGDOM
Telephone: +44 1618376572
E-mail: kazmen.lian@mercer.com

Internet address(es):

Address of the buyer profile: http://www.mytenders.org/search/Search_AuthProfile.aspx?ID=AA32229

Further information can be obtained from: Mercer
Belvedere, 12 Booth Street
For the attention of: Kazmen Lian (Email only — kazmen.lian@mercer.com or andy.farrington@mercer.com)
M2 4AW Manchester
UNITED KINGDOM
Telephone: +44 1618376572

Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: Mercer
Belvedere, 12 Booth Street
For the attention of: Kazmen Lian (Email only — kazmen.lian@mercer.com or andy.farrington@mercer.com)
M2 4AW Manchester
UNITED KINGDOM
Telephone: +44 1618376572

Tenders or requests to participate must be sent to: Mercer
Belvedere, 12 Booth Street
Contact point(s): Investments
For the attention of: Kazmen Lian (Email only — kazmen.lian@mercer.com or andy.farrington@mercer.com)
M2 4AW Manchester
UNITED KINGDOM
Telephone: +44 1618376572

I.2)Type of the contracting authority

Regional or local authority

I.3)Main activity

Economic and financial affairs

I.4)Contract award on behalf of other contracting authorities

The contracting authority is purchasing on behalf of other contracting authorities: yes

South Yorkshire

Section II: Object of the contract

II.1)Description

II.1.1)Title attributed to the contract by the contracting authority:

South Yorkshire Pensions Authority Buy and Maintain Credit Manager Search.

II.1.2)Type of contract and location of works, place of delivery or of performance

Services
Service category No 6: Financial services a) Insurances services b) Banking and investment services
Main site or location of works, place of delivery or of performance: South Yorkshire.

NUTS code UKE3

II.1.3)Information about a public contract, a framework agreement or a dynamic purchasing system (DPS)

The notice involves a public contract
II.1.4)Information on framework agreement

II.1.5)Short description of the contract or purchase(s)

The Scheme requires an investment manager for a Buy and Maintain (‘B&M’) credit portfolio with an estimated value of 5 % of the Scheme’s assets. This is equivalent to c.GBP 250 000 000 as of 31.3.2014. The appointment will be for one manager.
The portfolio will be managed on a segregated basis in line with the Scheme’s requirements. Further details can be found in the document titled Specification for Mandate.
The portfolio is expected to achieve diversification predominately through portfolio construction and credit selection within the limits set out in the Specification for Mandate document. The portfolio should focus on Sterling denominated credits, however an allocation to major overseas markets may be considered so long as the currencies are hedged back to Sterling and is consistent with the overall objective of the mandate. Broad exposure within the limits set across regions, sectors and company size bands is also required.
Managers should confirm compliance with the Local Government Pension Scheme (Management and Investment of Funds) Regulations 2009.

II.1.6)Common procurement vocabulary (CPV)

66100000, 66120000, 66520000

II.1.7)Information about Government Procurement Agreement (GPA)

The contract is covered by the Government Procurement Agreement (GPA): yes

II.1.8)Lots

This contract is divided into lots: no

II.1.9)Information about variants

Variants will be accepted: no
II.2)Quantity or scope of the contract

II.2.1)Total quantity or scope:

The exact size of the mandate will be affected by market movements. However, as a guide, the total size of the mandate is expected to be approximately GBP 250 000 000 based on asset values as of 31.3.2014.

II.2.2)Information about options

Options: no

II.2.3)Information about renewals

This contract is subject to renewal: no
II.3)Duration of the contract or time limit for completion

Section III: Legal, economic, financial and technical information

III.1)Conditions relating to the contract

III.1.1)Deposits and guarantees required:

As detailed within the tender documents.

III.1.2)Main financing conditions and payment arrangements and/or reference to the relevant provisions governing them:

As detailed within the tender documents.

III.1.3)Legal form to be taken by the group of economic operators to whom the contract is to be awarded:

As detailed within the tender documents.

III.1.4)Other particular conditions

The performance of the contract is subject to particular conditions: yes
Description of particular conditions: As detailed within the tender documents.
III.2)Conditions for participation

III.2.1)Personal situation of economic operators, including requirements relating to enrolment on professional or trade registers

Information and formalities necessary for evaluating if the requirements are met: As detailed within the tender documents.

III.2.2)Economic and financial ability

Information and formalities necessary for evaluating if the requirements are met: As detailed within the tender documents.

III.2.3)Technical capacity

Information and formalities necessary for evaluating if the requirements are met:
As detailed within the tender documents.
III.2.4)Information about reserved contracts
III.3)Conditions specific to services contracts

III.3.1)Information about a particular profession

Execution of the service is reserved to a particular profession: yes
Reference to the relevant law, regulation or administrative provision: As detailed within the tender documents.

III.3.2)Staff responsible for the execution of the service

Legal persons should indicate the names and professional qualifications of the staff responsible for the execution of the service: yes

Section IV: Procedure

IV.1)Type of procedure

IV.1.1)Type of procedure

Open
IV.1.2)Limitations on the number of operators who will be invited to tender or to participate
IV.1.3)Reduction of the number of operators during the negotiation or dialogue
IV.2)Award criteria

IV.2.1)Award criteria

The most economically advantageous tender in terms of the criteria stated in the specifications, in the invitation to tender or to negotiate or in the descriptive document

IV.2.2)Information about electronic auction

An electronic auction will be used: no
IV.3)Administrative information
IV.3.1)File reference number attributed by the contracting authority:
IV.3.2)Previous publication(s) concerning the same contract

IV.3.3)Conditions for obtaining specifications and additional documents or descriptive document

Time limit for receipt of requests for documents or for accessing documents: 30.1.2015

IV.3.4)Time limit for receipt of tenders or requests to participate

9.2.2015 – 12:00
IV.3.5)Date of dispatch of invitations to tender or to participate to selected candidates

IV.3.6)Language(s) in which tenders or requests to participate may be drawn up

English.
IV.3.7)Minimum time frame during which the tenderer must maintain the tender

IV.3.8)Conditions for opening of tenders

Date: 9.2.2015 – 12:00

Place:

Belvedere, 12 Booth Street, Manchester, M2 4AW.

Section VI: Complementary information

VI.1)Information about recurrence
VI.2)Information about European Union funds

VI.3)Additional information

(MT Ref:145556).
VI.4)Procedures for appeal
VI.4.1)Body responsible for appeal procedures
VI.4.2)Lodging of appeals
VI.4.3)Service from which information about the lodging of appeals may be obtained

VI.5)Date of dispatch of this notice:

19.12.2014

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