Tender for Pension Fund Investment Management

Tender for Pension Fund Investment Management

Management of an investment in unlisted infrastructure equity through a pooled fund vehicle.

United Kingdom-Swansea: Pension investment services

2017/S 031-055883

Contract notice

Services

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

The City and County of Swansea
Oystermouth Road
Swansea
SA1 3SN
United Kingdom
Contact person: Jeffrey Dong
E-mail: Jeffrey.dong@swansea.gov.uk
NUTS code: UKL18
Internet address(es):Main address: http://www.swanseapensionfund.org.uk/
I.2)Joint procurement

I.3)Communication

Access to the procurement documents is restricted. Further information can be obtained at:https://impp.bfinance.com/
Additional information can be obtained from another address:
bfinance UK Ltd
2nd Floor, 36 Queen Street
London
EC4R 1BN
United Kingdom
Contact person: Guy Hopgood
Telephone: +44 2077478627
E-mail: ghopgood@bfinance.com
NUTS code: UKI12Internet address(es):Main address: https://impp.bfinance.com/
Tenders or requests to participate must be submitted to the following address:
bfinance UK Ltd.
2nd Floor, 36 Queen Street
London
EC4R 1BN
United Kingdom
Contact person: Guy Hopgood
Telephone: +44 2077478627
E-mail: ghopgood@bfinance.com
NUTS code: UKI12
Internet address(es):Main address: https://impp.bfinance.com/

I.4)Type of the contracting authority

Regional or local authority

I.5)Main activity

Other activity: pension fund

Section II: Object

II.1)Scope of the procurement

II.1.1)Title:

Pension Fund investment.

II.1.2)Main CPV code

66131100

II.1.3)Type of contract

Services

II.1.4)Short description:

The Pension Fund of the City and Council of Swansea invites proposals for the management of an investment in unlisted infrastructure equity through a pooled fund vehicle. The Pension Fund of the City and Council of Swansea does not wish to be contacted during the tender process. Please contact bfinance for any queries regarding the tender.

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: UKL18

II.2.4)Description of the procurement:

Preference for an absolute return/IRR of 7-10 %+ p.a., with a cash yield of 4 %+ (net of all fees)

Type of management:

— Active.

— Core+/Value-add (also open to Core, not open to Opportunistic).

Allocation:

— Preference for Brownfield/Operational assets.

— Open to some Greenfield exposure but this should not make up the majority of the Fund (max. 50 %).

— Unlisted equity focused strategies.

Portfolio Diversification:

— Broadly Diversified exposure expected in terms of assets.

Portfolio Term and Duration:

— Long term illiquid exposure is expected, any liquidity windows would also be considered.

Geographical Exposure:

— Preferably OECD-focused, with maximum non-OECD exposure of 20 %.

— Emerging Markets exposure acceptable within global strategies but should be less than 20 %.

Other Criteria

— Regulated entity.

— Some realized assets in the track record are preferred.

— Fund should be a minimum size of 400 000 000 GBP.

— Minimum 750 000 000 GBP AUM in asset class.

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: 96
This contract is subject to renewal: yes
Description of renewals:

It is intended that the contract will continue in force until such time as is determined in accordance with the provisions contained in the contract.

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: 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: no

II.2.14)Additional information

See the tender documentation. The procurement documents can be obtained on the bfinance websitehttps://impp.bfinance.com/ Alternatively you may contact bfinance using the email addressSwanseaInfrastructureEquity@bfinance.com

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

List and brief description of conditions:

See the procurement documents.

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

Execution of the service is reserved to a particular profession
Reference to the relevant law, regulation or administrative provision:

An institution authorised to accept deposits in the United Kingdom. Providers must be authorised under the Financial Services Act 1986 or any equivalent legislation in any EU member state. Providers must satisfy the requirements of the Superannuation Act 1972 and the Local Government Pension Scheme (Management and Investment of Funds) regulations 1998 (as amended).

III.2.2)Contract performance conditions:

See the procurement documents.

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 dialogue
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: 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: 20/03/2017
Local time: 12:00
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

Duration in months: 6 (from the date stated for receipt of tender)
IV.2.7)Conditions for opening of tenders

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:
VI.4)Procedures for review

VI.4.1)Review body

bfinance UK Ltd.
2nd Floor, 36 Queen Street
London
EC4R 1BN
United Kingdom
VI.4.2)Body responsible for mediation procedures

VI.4.3)Review procedure

Precise information on deadline(s) for review procedures:

As detailed in procurement documents.

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

VI.5)Date of dispatch of this notice:

10/02/2017

 

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