ACCESS Local Government Pension Schemes Pool Operator

On behalf of the ACCESS Pool Administering Authorities, Kent County Council are seeking to procure the services of an FCA regulated, or or equivalent EEA financial services regulated, CIV Operator.

United Kingdom-Maidstone: Pension fund management services

2017/S 172-352474

Contract notice

Services

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

Kent County Council
County Hall
Maidstone
ME14 1XQ
United Kingdom
Contact person: Mrs Katherine Clark
Telephone: +44 3000411290
E-mail: katherine.clark@kent.gov.uk
NUTS code: UKJ

Internet address(es):Main address: http://www.kent.gov.uk

Address of the buyer profile: http://www.kent.gov.uk

I.2)Joint procurement

I.3)Communication

The procurement documents are available for unrestricted and full direct access, free of charge, at: www.kentbusinessportal.org.uk

Additional information can be obtained from the abovementioned address

Tenders or requests to participate must be submitted electronically via: www.kentbusinessportal.org.uk

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:

ACCESS LGPS Pool Operator.

Reference number: DN278237

II.1.2)Main CPV code

66141000

II.1.3)Type of contract

Services

II.1.4)Short description:

This procurement is being undertaken by Kent County Council on behalf of the ACCESS (A Collaboration of Central, Eastern and Southern Shires) Pool’s (‘the Pool’) Administering Authorities; a pool of eleven UK Local Government pension schemes as listed in Section II.2.4 below. The contract will also be accessible by any other LGPS Authority (for the list of LGPS member Authorities see http://www.lgpsboard.org/index.php/fund-annual-reports-2016) that joins the Pool at any time.

The object of the procurement is a contract for the services of an FCA regulated, or equivalent EEA financial services regulated, Operator (the ‘Operator’) who will be responsible for establishing and operating an umbrella Authorised Contractual Scheme (‘ACS’) and to facilitate the provision of other collective investment schemes for the benefit of the Pool, exclusively for the Pool.

II.1.5)Estimated total value

Value excluding VAT: 25 000 000.00 GBP

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)

66100000

II.2.3)Place of performance

NUTS code: UKJ

II.2.4)Description of the procurement:

The ACCESS Pool Administering Authorities are Cambridgeshire County Council, East Sussex County Council, Essex County Council, Hampshire County Council, Hertfordshire County Council, Isle of Wight Council, Kent County Council, Norfolk County Council, Northamptonshire County Council, Suffolk County Council, West Sussex County Council.

On behalf of the ACCESS Pool Administering Authorities, Kent County Council are seeking to procure the services of an FCA regulated, or or equivalent EEA financial services regulated, CIV Operator. The CIV Operator will be responsible for establishing and operating an Authorised Contractual Scheme (ACS) and other collective investment vehicles, exclusively for the Pool, which is expected to have in the region of 25-35 sub-funds. Its key functions will be to establish investment sub-funds, and to appoint, manage and dismiss investment managers of those funds. The Administering Authorities require all major asset classes to be available, including as a minimum, equities, fixed income, multi asset and property. The successful Supplier will provide quarterly reporting to the Pool on a range of monitoring metrics and Key Performance Indicators.

The successful Supplier will be required to apply for and obtain all the necessary regulatory authorisations required to operate the ACS. The supplier will be required to exercise best endeavours to have the ACS ready for investment in order for the transfer of assets to occur.

Further background and technical information can be found within the tender documentation.

Contract award will be based on the Most Economically Advantageous Tender based upon the criteria specified within the Invitation to Tender.

The Administering Authorities may choose to include optional ancillary services as detailed in the Invitation to Tender. These are not part of the core requirement, and do not form any part of the evaluation.

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

End: 31/01/2025

This contract is subject to renewal: yes

Description of renewals:

The contract is anticipated to commence upon 1.2.2018 and will continue for a period of 5 years with an option to extend for a further period(s) of up to 2 years unless terminated in accordance with the Conditions of Contract on the Kent Business Portal.

II.2.10)Information about variants

Variants will be accepted: no

II.2.11)Information about options

Options: yes

Description of options:

See Section II.2.4 — Description of the procurement.

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

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

Execution of the service is reserved to a particular profession

Reference to the relevant law, regulation or administrative provision:

The Operator is a full-scope UK AIFM and has obtained Part 4A Permission from the FCA in order to carrying out the regulated activity of ‘managing an authorised AIF’ specified in article 51ZC of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 and is permitted to carry on the activities under FUND 1.4.3 (1),(3),(4) and (6) or the Operator is an EEA AIFM and authorised in an EEA State and the EEA AIFM’s home Member State competent authority has sent the relevant notification forms, in accordance with the requirements of the AIFMD, to the FCA for these purposes.

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

Notice number in the OJ S: 2016/S 210-382840

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

Date: 06/10/2017

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: 3 (from the date stated for receipt of tender)

IV.2.7)Conditions for opening of tenders

Date: 06/10/2017

Local time: 12:00

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: yes

VI.2)Information about electronic workflows

Electronic ordering will be used

Electronic invoicing will be accepted

Electronic payment will be used

VI.3)Additional information:

VI.4)Procedures for review

VI.4.1)Review body

Kent County Council (on behalf of the Pool)
County Hall
Maidstone
ME14 1XQ
United Kingdom

VI.4.2)Body responsible for mediation procedures

VI.4.3)Review procedure

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

VI.5)Date of dispatch of this notice:

05/09/2017