Fund Management of the Sheffield City Region Urban Development Fund

Fund Management of the Sheffield City Region Urban Development Fund

Sheffield City Council.

UK-Sheffield: investment banking services and related services

2012/S 153-255914

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

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

Sheffield City Council
Sheffield Town Hall, PO Box 1283
Contact point(s): Commercial Services
For the attention of: Commercial Services via SCMS http://scms.alito.co.uk. under reference 26258
S1 1UJ Sheffield
UNITED KINGDOM
Telephone: +44 1142736641
E-mail: nicola.robinson@sheffield.gov.uk

Internet address(es):

General address of the contracting authority: http://www.sheffield.gov.uk/business-economy/contracts

Address of the buyer profile: http://www.mytenders.org/search/Search_AuthProfile.aspx?ID=AA0143

Further information can be obtained from: Sheffield City Council
Sheffield Town Hall, PO Box 1283
Contact point(s): Commercial Services
For the attention of: Commercial Services via SCMS http://scms.alito.co.uk. under reference 26258
S1 1UJ Sheffield
UNITED KINGDOM
Telephone: +44 1142736641
E-mail: commercialservices@sheffield.gov.uk
Internet address: http://www.sheffield.gov.uk/business-economy/contracts

Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: Sheffield City Council
Sheffield Town Hall, PO Box 1283
Contact point(s): Commercial Services
For the attention of: Commercial Services via SCMS http://scms.alito.co.uk. under reference 26258
S1 1UJ Sheffield
UNITED KINGDOM
Telephone: +44 1142736641
Internet address: http://www.sheffield.gov.uk/business-economy/contracts

Tenders or requests to participate must be sent to: Sheffield City Council
Sheffield Town Hall, PO Box 1283
Contact point(s): Commercial Services
For the attention of: Commercial Services via SCMS http://scms.alito.co.uk. under reference 26258
S1 1UJ Sheffield
UNITED KINGDOM
Telephone: +44 1142736641
Internet address: http://www.sheffield.gov.uk/business-economy/contracts

I.2)Type of the contracting authority
Regional or local authority
I.3)Main activity
General public services
I.4)Contract award on behalf of other contracting authorities

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

Bassetlaw District Council

Chesterfield Borough Council

North East Derbyshire District Council

Bolsover District Council

Barnsley MBC

Rotherham MBC

Doncaster Council

South Yorkshire Passenger Transport Executive

Homes and Communities Agency

Sheffield City Region Local Enterprise Partnership

The General Partner of the Sheffield City Region Urban Development Fund

Sheffield City Council

Any special purpose vehicle (however structured) established by any one or more of the above listed organisations

Any successors to any one or more of the above organisations created as a result of reorganisation or organisational changes and organisations created to deliver their functions and objectives including their wholly owned entities in each case whether acting individually, or on behalf of, or together as members of any consortia:

Section II: Object of the contract

II.1)Description
II.1.1)Title attributed to the contract by the contracting authority:
Fund Management of the Sheffield City Region Urban Development Fund.
II.1.2)Type of contract and location of works, place of delivery or of performance
Services
Service category No 6: Financial servicesa)Insurances services b)Banking and investment services
Main site or location of works, place of delivery or of performance: Main place of performance will be the administrative area of UKE3 South Yorkshire (England) and UKF1 Derbyshire and Nottinghamshire (England). However the arrangements may extend to participation and service delivery to the administrative areas covered by other local government and related public sector organisations and associated partners within England. See Section VI.3 Additional Information of this notice. NUTS code: UKE3.
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)
Sheffield City Council (SCC) is seeking to appoint, on behalf of its Sheffield City Region Partners, a fund manager to operate an economic development fund under the name of the Sheffield City Region Urban Development Fund (SCRUDF) for up to 10 years.
The SCRUDF may incorporate a number of funding resources including:
— Money secured under the Joint European Support for Sustainable Investment in City Areas (JESSICA) initiative,
— Money that the City Region Partners (listed at I.2 above) decide to allocate to the SCRUDF coming from other public initiatives (for example, the Growing Places Fund and Regional Growth Fund),
— Money that Local Authorities (listed at I.2 above) allocate to the SCRUDF arising from asset management and rationalisation activities,
— Other public resources that the Local Authorities (listed at I.2 above) decide to allocate to the fund from time to time,
— Investments made by private sector partners and institutional investors.
Initially, it is intended that the SCRUDF will be constituted with 13 000 000 GBP of ERDF cash matched with 7 000 000 GBP cash funding from the DCLG Growing Places Fund under the JESSICA initiative, with the potential of further funding being allocated in the future as part of the ongoing work by the City Region Partners to deploy resources to those parts of the region in most need and where greatest impact can be achieved.
In addition to the requirement to invest monies secured through the JESSICA initiative, the SCRUDF Manager may also be required to manage other (non-ERDF) monies made available to the SCRUDF by the Partners for investment in a similar manner to the JESSICA monies, in accordance with different investment criteria.
There is also the potential for additional funds to be invested (by SCC and/or its Partners) listed in 1.2 above) in either the SCRUDF or further fund structures (“Future Funds”). These Future Funds could be established as blocks of finance or separate entities (such as limited partnerships, limited liability partnerships, share limited companies or otherwise) .The selected Manager may be asked to provide the Fund Management Services in respect of any such additional funds invested in the SCRUDF and/or to such Future Funds for a similar length of appointment (but for the avoidance of doubt this cannot be guaranteed).
The SCRUDF Manager could also be requested to provide consultancy services to any of the Partners (listed at I.2 above) who have investment activities. This will be on a call-off basis by the Partner concerned who, at their own expense, will seek specific inputs to help them deliver their investment activity (this work is expected to relate to the Fund Manager’s expertise in development financing or the property market conditions in the region). The Manager is not guaranteed to be appointed to provide any consultancy services.
The SCRUDF will be set up within a Limited Partnership structure with SCC establishing a SPV to act as General Partner. The Fund Manager will be expected to (at its own cost) provide services to the General Partner to ensure that the General Partner complies with its obligations under agreements with investors in SCRUDF and companies legislation (including company secretarial and operational services).
See also Section VI.3 Additional Information of this notice.
NOTE: To register your interest in this notice and obtain any additional information please visit the myTenders Web Site at http://www.myTenders.org/Search/Search_Switch.aspx?ID=89701.
II.1.6)Common procurement vocabulary (CPV)

66120000, 66190000, 66150000, 66140000, 66160000, 66170000

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: yes
II.2)Quantity or scope of the contract
II.2.1)Total quantity or scope:
Please see the tender documentation.
In relation to Variants II.1.9, variants will only be accepted at the discretion of the contracting authority as set out in the invitation to tender and contract documents.
Estimated value excluding VAT:
Range: between 6 000 000 and 20 000 000 GBP
II.2.2)Information about options
Options: yes
Description of these options: There will be an opportunity for SCC to end the 10 year appointment on the giving of notice after five years where manager performance is not satisfactory.
There will be an option for SCC and/or the organisations listed in I.2 above to enter into arrangements with the Fund Manager for the provision of fund management and operator services in respect of Future Funds (and for similar length appointments) and for fund management and investment consultancy services. Further details will be contained in the Tender Documents.
II.2.3)Information about renewals
This contract is subject to renewal: yes
Number of possible renewals: 0
II.3)Duration of the contract or time limit for completion
Duration in months: 120 (from the award of the contract)

Section III: Legal, economic, financial and technical information

III.1)Conditions relating to the contract
III.1.1)Deposits and guarantees required:
The contracting authority reserves the right to require deposits, guarantees, bonds and/or other forms of appropriate security.
III.1.2)Main financing conditions and payment arrangements and/or reference to the relevant provisions governing them:
This will be in the Tender Documentation.
III.1.3)Legal form to be taken by the group of economic operators to whom the contract is to be awarded:
In the case of a group of bidders or consortium, SCC reserves the right to request that:
(i) the consortium forms a single entity through the establishment of a special purpose vehicle to act as the SCRUDF Manager (with appropriate guarantees in place for the Manager’s obligations under the contract); or
(ii) that a prime service provider assumes primary liability for the consortium and that each organisation in the group accepts joint and several liability.
III.1.4)Other particular conditions
The performance of the contract is subject to particular conditions: yes
Description of particular conditions: The successful tenderer will be expected to comply with relevant UK legalisation as set out in the Tender Documentation.
The Fund Manager will be required to comply with the Terms and Conditions of any Funding or Investment Agreements that are entered into by the SCRUDF.
The selected developer partner will be required to actively participate in the achievement of social and/ or environmental objectives. Accordingly contract performance conditions may relate in particular to social, environmental or other corporate social responsibility considerations. Further details of these conditions will be set out in the contract 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 set out in the Tender Documentation.
III.2.2)Economic and financial ability
Information and formalities necessary for evaluating if the requirements are met: As set out in the Tender Documentation.
III.2.3)Technical capacity
Information and formalities necessary for evaluating if the requirements are met:
As set out in the Tender Documentation.
Minimum level(s) of standards possibly required:
As set out in the Tender Documentation.
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: Yes – Bidders must be Financial Services Authority (FSA) Accredited.
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:
SCMS reference 26258
IV.3.2)Previous publication(s) concerning the same contract

Prior information notice

Notice number in the OJEU: 2012/S 098-163436 of 24.5.2012

IV.3.3)Conditions for obtaining specifications and additional documents or descriptive document
IV.3.4)Time limit for receipt of tenders or requests to participate
17.9.2012 – 17:00
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
Duration in months: 3 (from the date stated for receipt of tender)
IV.3.8)Conditions for opening tenders
Date: 3.9.2012 – 17:00
Place:

SCMS electronic opening ceremony.

Section VI: Complementary information

VI.1)Information about recurrence
VI.2)Information about European Union funds
The contract is related to a project and/or programme financed by European Union funds: yes
Reference to project(s) and/or programme(s): The SCRUDF is initially being funded with £13m ERDF from the 2007-13 Yorkshire and Humber Regional Competitiveness and Employment Programme. The funding has been matched with £7m from the UK Government’s ‘Growing Places Fund’ to establish a 20m GBP investment project to be delivered through the EU’s JESSICA model (Joint European Support for Sustainable Investment in City Areas).
VI.3)Additional information
(MT Ref:89701).
“Contracting Authority” means any one or more of the following:-.
Bassetlaw District Council, Queens Buildings, Potter Street, Worksop, Notts, S80 2AH.
Chesterfield Borough Council, Town Hall, Rose Hill, Chesterfield, Derbyshire, S40 1LP.
North East Derbyshire District Council, Council House, Saltergate, Chesterfield, Derbyshire, S40 1LF.
Bolsover District Council, Sherwood Lodge, Bolsover, S44 6NF.
Barnsley MBC, Corporate Mail Room, PO Box 634, BARNSLEY, S70 9GG.
Rotherham MBC, Town Hall, The Crofts, Moorgate Street, Rotherham, S60 2TH.
Doncaster Council, PO Box 257, The Council House, College Road, Doncaster, DN1 1BR.
Sheffield City Council, Town Hall, Pinstone Street, Sheffield S1 2HH.
South Yorkshire Passenger Transport Executive, 11 Broad Street West, Sheffield, S1 2BQ.
Homes and Communities Agency, Second Floor, Lateral, 8 City Walk, Leeds, LS11 9AT.
Sheffield City Region Local Enterprise Partnership, AMP Technology Centre, Advanced Manufacturing Park, Brunel Way, Rotherham, S60 5WG.
The General Partner of SCRUDF, c/o Sheffield City Council, Town Hall, Pinstone Street, Sheffield S1 2HH.
Any special purpose vehicle (however structured) established by any one or more of the above listed organisations.
Any successors to any one or more of the above organisations created as a result of reorganisation or organisational changes and organisations created to deliver their functions and objectives including their wholly owned entities in each case whether acting individually, or on behalf of, or together as members of any consortia.
(MT Ref:89701).
VI.4)Procedures for appeal
VI.4.1)Body responsible for appeal procedures

Lesley Barr
Sheffield Town Hall, PO Box 1283
S1 1UJ Sheffield
UNITED KINGDOM
E-mail: Lesley.Barr@Sheffield.gov.uk
Telephone: +44 1142736962

VI.4.2)Lodging of appeals

Precise information on deadline(s) for lodging appeals: In accordance with Regulation 32 (Information about contract award procedures and the application of standstill period prior to contract award) and Regulation 47 (Enforcement of Obligations) of the Public Contracts Regulations 2006 as amended II.1.9 In relation to Variants, variants will only be accepted at the discretion of the contracting authority as set out in the invitation to tender and contract documents II.1.5 NOTE: To register your interest in this notice and obtain any additional information please visit the myTenders Web Site at http://www.mytenders.org/Search/Search_Switch.aspx?ID=89701. Further information can also be obtained via the address and contact points in Annex A which also sets out the address where completed tenders should be returned. All tender documentation can be found at SCMS http://scms.alito.co.uk. under reference 26258. Any dialogue or questions must be posted via SCMS.

VI.4.3)Service from which information about the lodging of appeals may be obtained

Commercial Services
Sheffield Town Hall, PO Box 1283
S1 1UJ Sheffield
UNITED KINGDOM
E-mail: commercialservices@sheffield.gov.uk
Telephone: +44 1142736962

VI.5)Date of dispatch of this notice:8.8.2012

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