Diversified Alternatives for Pension Funds
The Royal Borough of Greenwich Pension Fund Investment and Administration Panel wishes to consider investing in 1 or more diversified alternatives funds.
United Kingdom-London: Pension fund management services
Section I: Contracting authority
I.1)Name, addresses and contact point(s)
Royal Borough of Greenwich
35 Wellington Street, Woolwich
Contact point(s): Glynis Ford
For the attention of: Procurement
SE18 6HQ London
Telephone: +44 2089215108
General address of the contracting authority: http://www.royalgreenwich.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
Other: local government revenues, finance and welfare assistance
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
NUTS code UKI21
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)
II.1.6)Common procurement vocabulary (CPV)
II.1.7)Information about Government Procurement Agreement (GPA)
II.1.9)Information about variants
II.2.1)Total quantity or scope:
— Active currency,
— Emerging market debt,
— Hedge funds,
— High yield bonds,
— Insurance-linked securities,
— Private equity,
— Timberland and agriculture.
It is expected that the preferred approach will generate net excess returns over 3 month Sterling LIBOR by a significant margin (expected to be 3-5 %), with a volatility of approximately 2 thirds that of equities. The size of the mandate is anticipated to be approximately 100 000 000 GBP. Providers using a multi-manager fund of fund approach, internally managed funds or a combination of the 2 will be considered. Because there will be portfolio guideline limits applied, only segregated solutions will be considered.
The Council reserves the right to alter the value of funds awarded and may split the contract among providers.
II.2.2)Information about options
II.2.3)Information about renewals
Section III: Legal, economic, financial and technical information
III.1.2)Main financing conditions and payment arrangements and/or reference to the relevant provisions governing them:
III.1.3)Legal form to be taken by the group of economic operators to whom the contract is to be awarded:
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
Candidates should complete a Request for Proposal (RfP). This is contained within the contract document set.
Minimum level(s) of standards possibly required:
Candidates should be regulated by the UK Financial Conduct Authority (FCA) or European Economic Member State equivalent body. Providers must be able to comply with LGPS regulations.
III.3.1)Information about a particular profession
Reference to the relevant law, regulation or administrative provision: Providers must be registered under the terms of the Financial Services and Markets Act 2000 or equivalent law of European Economic Area (EEA) member state. See 111.2.3 above.
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.3.2)Previous publication(s) concerning the same contract
IV.3.3)Conditions for obtaining specifications and additional documents or descriptive document
Payable documents: no
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.3.8)Conditions for opening of tenders
Royal Borough of Greenwich, The Woolwich Centre, SE18 6HQ.
Section VI: Complementary information
VI.1)Information about recurrence
VI.2)Information about European Union funds
The contract Term will be a maximum of 10 years, Royal Borough of Greenwich does however reserve the right that at any time during the term 1 day (24 hours) Notice of Termination will be given.
VI.4.1)Body responsible for appeal procedures
Royal Courts of Justice
WC2A 2LL London
VI.4.2)Lodging of appeals
Precise information on deadline(s) for lodging appeals: Royal Borough of Greenwich has incorporated a minimum 10 calendar day Standstill Period after notification to unsuccessful applicants of the award decision. The Public Contracts (Amendments) Regulations 2015 provide for remedies through the High Courts (England, Wales and Northern Ireland) to be sought by economic operators who suffer (or risk suffering) loss or damage as a consequence of a failure by the Royal Borough of Greenwich to comply with certain provisions of those regulations and/or certain EU Community obligations relating to procurement.
In summary: The County Court Remedies Regulations 2014. Member states — Service contract — Contract notice — Open procedure. Proceedings must be brought promptly and in any event within 30 days of the date on which grounds for bringing proceedings 1st arise.
VI.4.3)Service from which information about the lodging of appeals may be obtained
SW1A 2AS London
VI.5)Date of dispatch of this notice: