Requirement for UK Pooled Property Fund Manager

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

2017/S 154-319563

Contract notice

Services

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

London Borough of Bromley
Civic Centre, Stockwell Close
Bromley
BR1 3UH
United Kingdom
E-mail: procurement@bromley.gov.uk
NUTS code: UKJ4
Internet address(es):Main address: www.londontenders.org
I.2)Joint procurement

I.3)Communication

The procurement documents are available for unrestricted and full direct access, free of charge, at: www.londontenders.org
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be submitted electronically via: www.londontenders.org
Tenders or requests to participate must be submitted to the abovementioned address

I.4)Type of the contracting authority

Regional or local authority

I.5)Main activity

General public services

Section II: Object

II.1)Scope of the procurement

II.1.1)Title:

UK Pooled Property Fund Manager.

II.1.2)Main CPV code

66131100

II.1.3)Type of contract

Services

II.1.4)Short description:

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.1.5)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)

II.2.3)Place of performance

NUTS code: UKJ4
Main site or place of performance:

Kent.

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.2.5)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

Start: 01/01/2018
End: 31/12/2068
This contract is subject to renewal: yes
Description of renewals:

As identified in the tender documentation.

II.2.9)Information about the limits on the number of candidates to be invited

II.2.10)Information about variants

Variants will be accepted: no

II.2.11)Information about options

Options: yes
Description of options:

5 x 5 year extension options are available.

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: no

II.2.14)Additional information

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)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

Competitive procedure with negotiation
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.1.5)Information about negotiation
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: no
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: 11/09/2017
Local time: 12:00

IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates

Date: 18/09/2017

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
IV.2.7)Conditions for opening of tenders

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: yes
Estimated timing for further notices to be published:

As required.

VI.2)Information about electronic workflows

VI.3)Additional information:

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.

To view this notice, please click here:

https://www.delta-esourcing.com/delta/viewNotice.html?noticeId=271470474

GO Reference: GO-2017810-PRO-10812702.

VI.4)Procedures for review

VI.4.1)Review body

Royal Courts of Justice
The Strand
London
WC2A 2LL
United Kingdom
Telephone: +44 2079476000

VI.4.2)Body responsible for mediation procedures

Royal Courts of Justice
The Strand, Holborn
London
WC2A 2LL
United Kingdom
VI.4.3)Review procedure

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

Royal Courts of Justice
The Strand, Holborn
London
WC2A 2LL
United Kingdom
Telephone: +44 2079476000

VI.5)Date of dispatch of this notice:

10/08/2017

 

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