Fund Management Services Contract Northern Ireland

Fund Management Services Contract Northern Ireland

Invest NI – Provision of fund management services for Co-Fund II. ERDF.

United Kingdom-Belfast: Corporate finance and venture capital services

2017/S 066-124332

Contract notice

Services

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

Invest NI
Bedford Square
Belfast
BT2 7ES
United Kingdom
Contact person: neil gorman
E-mail: neil.gorman@finance-ni.gov.uk
NUTS code: UK
Internet address(es):Main address: https://etendersni.gov.uk/epps

Address of the buyer profile: https://etendersni.gov.uk/epps

I.2)Joint procurement

I.3)Communication

The procurement documents are available for unrestricted and full direct access, free of charge, at: https://etendersni.gov.uk/epps
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be submitted to the abovementioned address

I.4)Type of the contracting authority

Body governed by public law

I.5)Main activity

General public services

Section II: Object

II.1)Scope of the procurement

II.1.1)Title:

Invest NI – Provision of fund management services for Co-Fund II. ERDF.

II.1.2)Main CPV code

66122000

II.1.3)Type of contract

Services

II.1.4)Short description:

It is intended to procure a fund manager to manage and deliver CoFund II on behalf of Invest NI under a contract for services. The role of the manager will be to facilitate investment and identify circa 42 potential companies and associated investors so that a pipeline of deals can be developed. The manager will be required to invest 3 000 000 by way of follow on investment into an existing portfolio of investee companies from CoFund I and manage that portfolio accordingly, including taking some companies through to exit. The contract will run for 6 years with an option to extend for 1 year. A cap for the management fee for the initial 6 years of the Management Services Agreement has been set at 3 834 000 excl. VAT based on the anticipated activity levels referred to above. Should investment activity levels exceed expectations, INI will seek approval for additional investment capital and will seek to remunerate the Manager as provided for in the Management Services Agreement.

II.1.5)Estimated total value

II.1.6)Information about lots

This contract is divided into lots: no
II.2)Description
II.2.1)Title:

II.2.2)Additional CPV code(s)

66122000

II.2.3)Place of performance

NUTS code: UKN

II.2.4)Description of the procurement:

It is intended to procure a fund manager to manage and deliver CoFund II on behalf of Invest NI under a contract for services. The role of the manager will be to facilitate investment and identify circa 42 potential companies and associated investors so that a pipeline of deals can be developed. The manager will be required to invest 3 000 000 by way of follow on investment into an existing portfolio of investee companies from CoFund I and manage that portfolio accordingly, including taking some companies through to exit. The contract will run for 6 years with an option to extend for 1 year. A cap for the management fee for the initial 6 years of the Management Services Agreement has been set at 3 834 000 excl. VAT based on the anticipated activity levels referred to above. Should investment activity levels exceed expectations, INI will seek approval for additional investment capital and will seek to remunerate the Manager as provided for in the Management Services Agreement.

II.2.5)Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents
II.2.6)Estimated value

II.2.7)Duration of the contract, framework agreement or dynamic purchasing system

Duration in months: 72
This contract is subject to renewal: no

II.2.10)Information about variants

Variants will be accepted: no

II.2.11)Information about options

Options: no
II.2.12)Information about electronic catalogues

II.2.13)Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: yes
Identification of the project: Co Fund II EDRF.
II.2.14)Additional information

Section III: Legal, economic, financial and technical information

III.1)Conditions for participation
III.1.1)Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers

III.1.2)Economic and financial standing

Selection criteria as stated in the procurement documents

III.1.3)Technical and professional ability

Selection criteria as stated in the procurement documents
III.1.5)Information about reserved contracts
III.2)Conditions related to the contract
III.2.1)Information about a particular profession
III.2.2)Contract performance conditions:
III.2.3)Information about staff responsible for the performance of the contract

Section IV: Procedure

IV.1)Description

IV.1.1)Type of procedure

Open procedure
IV.1.3)Information about a framework agreement or a dynamic purchasing system
IV.1.4)Information about reduction of the number of solutions or tenders during negotiation or dialogue
IV.1.6)Information about electronic auction

IV.1.8)Information about the Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: yes
IV.2)Administrative information
IV.2.1)Previous publication concerning this procedure

IV.2.2)Time limit for receipt of tenders or requests to participate

Date: 03/05/2017
Local time: 15:00
IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates

IV.2.4)Languages in which tenders or requests to participate may be submitted:

English

IV.2.6)Minimum time frame during which the tenderer must maintain the tender

Tender must be valid until: 01/08/2017

IV.2.7)Conditions for opening of tenders

Date: 03/05/2017
Local time: 15:30

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: no
VI.2)Information about electronic workflows

VI.3)Additional information:

The successful contractor’s performance on the contract will be regularly monitored. Contractors not delivering on contract requirements is a serious matter. It means the public purse is not getting what it is paying for. If a contractor fails to reach satisfactory levels of contract performance they will be given a specified time to improve. If, after the specified time, they still fail to reach satisfactory levels of contract performance, the matter will be escalated to senior management in CPD for further action. If this occurs and their performance still does not improve to satisfactory levels within the specified period, it may be regarded as an act of grave professional misconduct and they may be issued with a Certificate of Unsatisfactory Performance and the contract may be terminated. The issue of a Certificate of Unsatisfactory Performance will result in the contractor being excluded from all procurement competitions being undertaken by Centres of Procurement Expertise on behalf of bodies covered by the Northern Ireland Procurement Policy for a period of 12 months from the date of issue of the certificate”.

VI.4)Procedures for review

VI.4.1)Review body

The UK does not have any such bodies with responsibility for appeal/mediation procedures
NA
United Kingdom

VI.4.2)Body responsible for mediation procedures

The UK does not have any such bodies with responsibility for appeal/mediation procedures
NA
United Kingdom

VI.4.3)Review procedure

Precise information on deadline(s) for review procedures:

CPD will comply with the Public Contracts Regulations 2015 and, where appropriate, will incorporate a standstill period (i.e. a minimum of 10 calendar days) at the point information on the award of contract is communicated to tenderers. That notification will provide full information on the award decision. This provides time for the unsuccessful tenderers to challenge the award decision before the contract is entered into.

VI.4.4)Service from which information about the review procedure may be obtained

VI.5)Date of dispatch of this notice:

31/03/2017

 

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