Specialist Investment Advisory Services to Pension Protection Fund

Specialist Investment Advisory Services to Pension Protection Fund

The Board is looking to set up a panel of specialist investment advisors who can be engaged on short notice to advise on one or more of the following areas (this could also include related areas).

United Kingdom-Croydon: Banking and investment services

2014/S 233-410733

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

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

Pension Protection Fund
Renaissance, 12 Dingwall Road
Contact point(s): PPF Commercial Services
CR0 2NA Croydon
UNITED KINGDOM
Telephone: +44 8456002541
E-mail: procurement@ppf.gsi.gov.uk

Internet address(es):

General address of the contracting authority: http://www.pensionprotectionfund.org.uk

Address of the buyer profile: https://ppf.bravosolution.co.uk/web/login.html

Electronic access to information: https://ppf.bravosolution.co.uk/web/login.html

Electronic submission of tenders and requests to participate: https://ppf.bravosolution.co.uk/web/login.html

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

Body governed by public law

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: no

Section II: Object of the contract

II.1)Description

II.1.1)Title attributed to the contract by the contracting authority:

Specialist Investment Advisory Services.

II.1.2)Type of contract and location of works, place of delivery or of performance

Services
Service category No 6: Financial services a) Insurances services b) Banking and investment services
NUTS code

II.1.3)Information about a public contract, a framework agreement or a dynamic purchasing system (DPS)

The notice involves the establishment of a framework agreement
The notice involves a public contract

II.1.4)Information on framework agreement

Framework agreement with several operators

II.1.5)Short description of the contract or purchase(s)

This scope should be read together with the minimum conditions stated below. You are also directed to the Board’s stated evaluation criteria.
The Board is looking to set up a panel of specialist investment advisors who can be engaged on short notice to advise on one or more of the following areas (this could also include related areas).
— Specialist investment advice:
Asset overlays,
Asset rebalancing,
Collateral management,
Derivatives,
Hedging,
Illiquid assets,
Responsible investment,
Stock lending,
Structured products,
Transition management,
Development and management of the PPF investment approach,
Liability driven investment (LDI) management,
Strategic asset allocation and/or tactical asset allocation,
And other areas.
— And Fund Manager due diligence:
Analysis of co-investment/direct opportunities,
Manager monitoring, research and selection in new/existing asset classes,
Operational reviews,
And other areas,
The Board will only consider advisors who confirm that they can meet the following minimum conditions.
Minimum Conditions (for Specialist investment advice):
— Performance Track Record of at least 10 years for advisory services.
— Assets under Advise (AuA) greater than £ GBP 5bn (GBP 5,000,000,000) (or equivalent) across different asset classes.
— At least 3 offices globally.
— Previous experience of working with UK pension funds.
— At least 50 dedicated investment professionals.
— At least 200 staff throughout the organisation.
— Risk/Indemnity Insurance of at least GBP 5 000 000.
— No retainer or annual charge applicable.
Minimum conditions (for Fund Manager due diligence):
— Performance Track Record of 5 years for advisory services within Alternative Investments (credit, farmland, global real estate, infrastructure, private equity, timberland etc.).
— Prior experience of advisory work in at least 2 continents within the last 12 months.
— Assets under Advise (AuA) greater than GBP 1 000 000 000 across different asset classes.
— Previous experience of working with UK pension funds.
— At least 10 dedicated investment professionals.
— Risk/Indemnity Insurance of at least GBP 10 000 000.
— No retainer or annual charge applicable.

II.1.6)Common procurement vocabulary (CPV)

66100000, 66120000

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:
II.2.2)Information about options

II.2.3)Information about renewals

This contract is subject to renewal: yes
II.3)Duration of the contract or time limit for completion

Section III: Legal, economic, financial and technical information

III.1)Conditions relating to the contract
III.1.1)Deposits and guarantees required:
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.1.4)Other particular conditions
III.2)Conditions for participation
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
III.2.3)Technical capacity
III.2.4)Information about reserved contracts
III.3)Conditions specific to services contracts
III.3.1)Information about a particular profession
III.3.2)Staff responsible for the execution of the service

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
IV.3)Administrative information
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

IV.3.4)Time limit for receipt of tenders or requests to participate

12.1.2015 – 11:00
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
IV.3.8)Conditions for opening of tenders

Section VI: Complementary information

VI.1)Information about recurrence
VI.2)Information about European Union funds

VI.3)Additional information

The Board was set up under the provisions of the Pensions Act 2004 in April 2005 and is classified as a public financial corporation. It has been established to pay compensation to members of eligible defined benefit and hybrid pension schemes when there has been a qualifying insolvency event in relation to the employer, and where there are insufficient assets in the pension scheme to cover Pension Protection Fund levels of compensation.

For further information on our investments, please see our website: http://www.pensionprotectionfund.org.uk/About-Us/Pages/Investment.aspx

A copy of our SIP is available on our website. The SIP (Statement of Investment Principles) sets out the Board’s principles and policies governing the investment of its assets.

Note: to register your interest in this notice and obtain any additional information please visit the Bravo website: https://ppf.bravosolution.co.uk (Please see further details below)

All questions for the Board should be submitted via this portal well in advance of the tender deadline. If you have any issues with the Bravo web site please contact their customer support on Free-phone: +44 8003684850.
Tenderers must respond in advance of deadline stated and we suggest you download the tender documentation from the tender portal ASAP. Please do not contact any member of the Board directly in relation to this tender exercise.
Note in relation to Legal terms: the Board anticipate using a number of standard provisions which will be available in the invitation to tender. The Board is looking to engage with organisations that can be flexible and accommodate the commercial terms on which the Board is proposing. For further information please see the invitation to tender. The Freedom of Information Act (FOIA) 2000 which came into force on 1.1.2005 applies to the contracting authority. If any tenderer considers that any information supplied by them is either commercially sensitive or confidential in nature, this should be highlighted and the reasons for its sensitivity specified in the tender response. The contract shall be made in English and according to English Law and subject to the jurisdiction of the English courts.
The Contracting Authority has considered (pursuant to the Public Services (Social Value) Act 2012) whether to explicitly seek social value through this procurement and has decided that, in light of the subject matter, it is not appropriate on this occasion. The Authority has also concluded that it is not necessary to consult about social value in this instance.

VI.4)Procedures for appeal
VI.4.1)Body responsible for appeal procedures
VI.4.2)Lodging of appeals
VI.4.3)Service from which information about the lodging of appeals may be obtained

VI.5)Date of dispatch of this notice:

28.11.2014

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