Requirement for UK Pooled Property Fund Manager
The London Borough of Bromley in its capacity as Administrating Authority for the London Borough of Bromley Pension Fund is seeking to invest in a pooled UK Property Fund portfolio as detailed in the Tender Documents.
United Kingdom-Bromley: Pension investment services
Section I: Contracting authority
I.1)Name and addresses
Civic Centre, Stockwell Close
NUTS code: UKJ4
I.4)Type of the contracting authority
Section II: Object
UK Pooled Property Fund Manager.
II.1.2)Main CPV code
II.1.3)Type of contract
The London Borough of Bromley (‘the Authority’) in its capacity as Administrating Authority for the London Borough of Bromley Pension Fund (‘the Fund’) is seeking to invest in a pooled UK Property Fund portfolio as detailed in the Tender Documents.
The tender opportunity will be run electronically through the London Tenders Portal and suppliers will need to register their company with the portal as soon as possible (if they have not already done so) at www.londontenders.org to ensure they are able to access and submit the relevant documents online.
All applications must be made through the London Tenders Portal only and not to the Contact Details contained within this notice.
II.1.6)Information about lots
II.2.3)Place of performance
II.2.4)Description of the procurement:
The Council’s Pension Fund is a defined benefit scheme operated under the provisions of the Local Government Pension Scheme (LGPS) Regulations, for the purpose of providing pension benefits for its employees. The investment regulations (The LGPS (Management and Investment of Funds) Regulations 2016) allow local authorities to use all the established categories of investments, e.g. equities, bonds, property etc., and to appoint external investment managers who are required to use a wide variety of investments and to comply with certain specific limits.
Given the initial allocation of around 50 000 000 GBP, it is proposed that one managers be appointed for a pooled UK Property Fund. The Council has appointed AllenbridgeEpic to manage the procurement of the Fund Manager for this new mandates.
II.2.7)Duration of the contract, framework agreement or dynamic purchasing system
As identified in the tender documentation.
II.2.10)Information about variants
II.2.11)Information about options
5 x 5 year extension options are available.
II.2.13)Information about European Union funds
Full tender documentation is accessible via the London Tenders Portal and Applicants should complete only the Stage 1 Selection Documents at this stage. The Invitation to Tender and supporting documents should only be completed once an Applicant has been invited to submit a tender following assessment of the Stage 1 responses.
Section III: Legal, economic, financial and technical information
III.1.2)Economic and financial standing
III.1.3)Technical and professional ability
Section IV: Procedure
IV.1.1)Type of procedure
IV.1.8)Information about the Government Procurement Agreement (GPA)
IV.2.2)Time limit for receipt of tenders or requests to participate
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:
Section VI: Complementary information
VI.1)Information about recurrence
The contracting authority considers that this contract may be suitable for economic operators that are small or medium enterprises (SMEs). However, any selection of tenderers will be based solely on the criteria set out for the procurement. Evaluation of the tender will be based on the CIPFA standing guide to the commissioning of local authority work and services tender evaluation model and in full compliance with EU Directives, the Council’s Contract Procedure Rules and in accordance with the stated criteria. Tenderers should note that the evaluation of the above criteria for Quality issues etc. will also include the operation of minimum score thresholds. If the Tenderer’s proposal receives a score below the required threshold then the bid may not be considered further. (The minimum acceptable score is a requirement to obtain at least half of the available points in any particular area).
An indicative use of this model can be downloaded from the Council’s website at http://www.bromley.gov.uk/info/200095/tenders_and_contracts/265/submitting_tenders
The Council works closely with a number of its surrounding local authorities on procurement activity and is a member of the South East London Procurement Group (comprising of the London Boroughs of Bromley, Bexley, Lewisham, Greenwich, Lambeth and Southwark). In addition to the partner organisation identified above, in appropriate circumstances and in compliance with any legal and regulatory requirement, the opportunity for services to be provided through this contract may also be offered to members of this organisation and who may have similar usage volumes.
The Council may make use of the contract for further negotiated arrangements to the extent permissible and in compliance with the relevant Procurement Regulations.
Prospective contractors are advised that the documents issued at this time in conjunction with the OJEU Tender Notice may be supplemented and/or amended as provided for in Regulation 53(6) of the Public Contracts Regulations 2015.
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GO Reference: GO-2017810-PRO-10812702.
Telephone: +44 2079476000
VI.4.2)Body responsible for mediation procedures
The Strand, Holborn
VI.4.4)Service from which information about the review procedure may be obtained
The Strand, Holborn
Telephone: +44 2079476000
VI.5)Date of dispatch of this notice: