Appointment of Pension Fund Manager for Essex Pension Fund
Essex Pension Fund are seeking to appoint an investment manager for a global property mandate of approximately 250 000 000 GBP.
United Kingdom-Chelmsford: Pension fund management services
2018/S 221-506980
Contract notice
Services
Directive 2004/18/EC
Section I: Contracting authority
I.1)Name, addresses and contact point(s)
Essex Pension Fund
PO Box 11, County Hall
Contact point(s): Investment Research Team
For the attention of: Adam Porter
CM1 1LX Chelmsford
United Kingdom
Telephone: +44 2070826243
E-mail: essexglobalpropertysearch@hymans.co.uk
Internet address(es):
General address of the contracting authority: www.essexcc.gov.uk
Further information can be obtained from: Hymans Robertson LLP
20 Waterloo Street
Contact point(s): Adam Porter
For the attention of: Manager Research Team
G2 6DB Glasgow
United Kingdom
Telephone: +44 2070826243
E-mail: essexglobalpropertysearch@hymans.co.uk
Internet address: www.hymans.co.uk
Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: Hymans Robertson LLP
20 Waterloo Street
Contact point(s): Adam Porter
For the attention of: Manager Research Team
G2 6DB Glasgow
United Kingdom
Telephone: +44 2070826243
E-mail: essexglobalpropertysearch@hymans.co.uk
Internet address: www.hymans.co.uk
Tenders or requests to participate must be sent to: Hymans Robertson LLP
20 Waterloo Street
Contact point(s): Adam Porter
For the attention of: Manager Research Team
G2 6DB Glasgow
United Kingdom
Telephone: +44 2070826243
E-mail: essexglobalpropertysearch@hymans.co.uk
Internet address: www.hymans.co.uk
I.2)Type of the contracting authority
I.3)Main activity
I.4)Contract award on behalf of other contracting authorities
Section II: Object of the contract
II.1.1)Title attributed to the contract by the contracting authority:
II.1.2)Type of contract and location of works, place of delivery or of performance
Service category No 6: Financial services a) Insurances services b) Banking and investment services
Main site or location of works, place of delivery or of performance: Essex
NUTS code UKH3
II.1.3)Information about a public contract, a framework agreement or a dynamic purchasing system (DPS)
II.1.5)Short description of the contract or purchase(s)
II.1.6)Common procurement vocabulary (CPV)
66141000
II.1.7)Information about Government Procurement Agreement (GPA)
II.1.8)Lots
II.1.9)Information about variants
II.2.1)Total quantity or scope:
— The manager must be able to demonstrate a global perspective on real estate and be able to give objective advice on global real estate markets (private and public) and on investment timing.
— This will be a single appointment, allocations to country and regionally focused strategies are expected to be managed by the successful candidate within this mandate.
— Whilst not necessary, a small allocation to real estate debt and/or listed real estate may be allowed but will not represent more than 20 % of the mandate.
— Any allocations to debt strategies or listed markets would be managed by the successful candidate.
— To apply, candidates must already manage at least 1 500 000 000 GBP of real estate globally, with at least 500 000 000 GBP invested in Europe, 500 000 000 GBP invested in North America and 300 000 000 GBP invested in Asia Pacific.
— The successful manager must have at least 3 experienced real estate professionals based in each of the three main regions.
— The proposed investment solution must not have any direct allocation to properties within the areas encompassed by Essex County Council, Thurrock or Southend on Sea unitary councils.
— Separate accounts, open-ended funds and closed-ended solutions will be considered.
— Managers and their investment strategies will need to be able to comply with the appropriate LGPS regulations.
— The Council reserves the right to alter the value of the funds awarded and this may change over time.
— The Council reserves the right to alter the length of the contract.
II.2.2)Information about options
II.2.3)Information about renewals
Section III: Legal, economic, financial and technical information
III.2.1)Personal situation of economic operators, including requirements relating to enrolment on professional or trade registers
III.2.3)Technical capacity
Providers should complete a European Single Procurement Document (ESPD) and a Request for Proposal (RfP). Please contact Hymans Robertson LLP for copies of both. Contact details can be found in Annex A.
Minimum level(s) of standards possibly required:
Providers must be registered in terms of the UK Financial Services and Markets Act 2000, or equivalent law of European Economic Area (EEA) member state to
Manage the assets of occupational pension schemes. Providers must be able to comply with appropriate LGPS regulations.
III.3.1)Information about a particular profession
Reference to the relevant law, regulation or administrative provision: Providers must be registered under the terms of the UK Financial Services and Markets Act 2000 or equivalent law of European Economic Area (EEA) to manage the assets of occupational pension funds. See III 2.1 above.
III.3.2)Staff responsible for the execution of the service
Section IV: Procedure
IV.1.1)Type of procedure
IV.2.1)Award criteria
IV.2.2)Information about electronic auction
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
IV.3.6)Language(s) in which tenders or requests to participate may be drawn up
Section VI: Complementary information
VI.1)Information about recurrence
VI.2)Information about European Union funds
VI.4.2)Lodging of appeals
VI.5)Date of dispatch of this notice: