Commercial Real Estate Debt Investment Manager for The Highland Council Pension Fund
Following a review of the Fund’s investment strategy, the Council wish to appoint a Commercial Real Estate Debt Investment Manager to manage a commitment to commercial real estate loans to increase diversification.
United Kingdom-Inverness: Financial and insurance services
Section I: Contracting authority
I.1)Name, addresses and contact point(s)
The Highland Council
Town House, High Street
Contact point(s): Finance — Procurement, Corporate Contracts Team
IV1 1JJ Inverness
Telephone: +44 1463785153
General address of the contracting authority: http://www.highland.gov.uk/
Address of the buyer profile: http://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA00045
Electronic access to information: http://www.publictendersscotland.publiccontractsscotland.gov.uk/
Electronic submission of tenders and requests to participate: http://www.publictendersscotland.publiccontractsscotland.gov.uk/
Further information can be obtained from: The above mentioned contact point(s)
Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: The above mentioned contact point(s)
Tenders or requests to participate must be sent to: The above mentioned contact point(s)
I.2)Type of the contracting authority
I.4)Contract award on behalf of other contracting authorities
Section II: Object of the contract
II.1.1)Title attributed to the contract by the contracting authority:
II.1.2)Type of contract and location of works, place of delivery or of performance
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: Highlands and Islands.
NUTS code UKM6
II.1.3)Information about a public contract, a framework agreement or a dynamic purchasing system (DPS)
II.1.5)Short description of the contract or purchase(s)
The Authority is inviting tenders for the service of a Commercial Real Estate Debt Investment Manager.
Following a review of the Fund’s investment strategy, the Council wish to appoint a Commercial Real Estate Debt Investment Manager to manage a commitment to commercial real estate loans to increase diversification within the Fund’s portfolio and aim to achieve attractive risk-adjusted returns.
The Council’s preference is to invest in a pooled fund product that invests only in, or primarily in, whole loans. However, pooled fund products which invest primarily in whole loans but also in mezzanine debt will also be considered, although the investment manager will need to be able to demonstrate that the focus of their strategy is to invest in whole loans.
The mandate will be restricted to funds which provide loans on properties situated in the UK and Europe (excluding Eastern and peripheral Europe), although the Council has a preference for a fund that is restricted to, or focuses on, UK based lending opportunities.
It is the Council’s intention to appoint a single investment manager to manage a commitment of around 55 million GBP to this mandate.
Note: The buyer is using PCS-Tender to carry out this procurement process. Please note this is a separate website and if you are not already registered, registration will be required.
To access PCS-Tender, record your interest in this notice and access the tender documentation please visithttps://www.publictendersscotland.publiccontractsscotland.gov.uk and search for project Code 3358 under s Open to All Suppliers. Please use the Search/Filter function, then select Project Code from the drop-down. Please note that once you have expressed interest in the it will move to your My s area.
For further information on using PCS-Tender, please read the Supplier Response Guide:https://www.publictendersscotland.publiccontractsscotland.gov.uk/esop/pts-host/public/pts/supplierhelppage/PCS-TSupplierResponseGuide.pdf
If you have already registered on Public Contracts Scotland and PCS-Tender and paired your accounts you can access PCS-Tender through your Public Contracts Scotland Control Panel.
II.1.6)Common procurement vocabulary (CPV)
66000000, 66171000, 79412000, 66151000, 66131100, 66141000, 66520000, 66100000, 66120000, 66522000, 66523000
II.1.7)Information about Government Procurement Agreement (GPA)
II.1.9)Information about variants
II.2.1)Total quantity or scope:
Estimated value excluding VAT: 5 400 000 GBP
II.2.2)Information about options
Description of these options: Option to extend the Contract by a further period of up to 48 months.
II.2.3)Information about renewals
II.3)Duration of the contract or time limit for completion
Section III: Legal, economic, financial and technical information
III.1.3)Legal form to be taken by the group of economic operators to whom the contract is to be awarded:
III.1.4)Other particular conditions
Description of particular conditions: As stated in the tender and contract documentation.
III.2.1)Personal situation of economic operators, including requirements relating to enrolment on professional or trade registers
III.2.2)Economic and financial ability
As stated in the tender and contract documentation.
III.3.1)Information about a particular profession
Reference to the relevant law, regulation or administrative provision: Organisation and any staff involved in supporting and delivering the Services under this Contract, shall be required to meet all necessary requirements of the Financial Conduct Authority (or equivalent body) and be appropriately qualified to undertake the work they are engaged to deliver. The Fund Manager must also evidence that they are appropriately regulated for the Services they provide.
Other information as stated in the tender and contract documentation.
III.3.2)Staff responsible for the execution of the service
Section IV: Procedure
IV.1.1)Type of procedure
IV.2.2)Information about electronic auction
IV.3.1)File reference number attributed by the contracting authority:
IV.3.4)Time limit for receipt of tenders or requests to participate
IV.3.6)Language(s) in which tenders or requests to participate may be drawn up
IV.3.7)Minimum time frame during which the tenderer must maintain the tender
IV.3.8)Conditions for opening of tenders
Date: 18.2.2015 – 12:00
Procurement, Town House, Inverness.
Section VI: Complementary information
VI.4.3)Service from which information about the lodging of appeals may be obtained
VI.5)Date of dispatch of this notice: