Fund Management Services Tender – Cheshire East Borough Council

Fund Management Services Tender – Cheshire East Borough Council

This tender process is for the procurement of fund management services to deliver the Cheshire and Warrington Development Fund.

United Kingdom-Sandbach: Financial consultancy services

2019/S 194-471800

Contract notice

Services

Legal Basis:

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

Cheshire East Borough Council
Westfields, Middlewich Road
Sandbach
CW11 1HZ
United Kingdom
Contact person: Mike Munro
E-mail: tenders@cirruspurchasing.co.uk
NUTS code: UKD
Internet address(es):Main address: https://www.cheshireeast.gov.uk/home.aspx

Address of the buyer profile: https://in-tendhost.co.uk/cirruspurchasing/aspx/Home

I.2)Information about joint procurement

I.3)Communication

The procurement documents are available for unrestricted and full direct access, free of charge, at: https://in-tendhost.co.uk/cirruspurchasing/aspx/Home
Additional information can be obtained from the abovementioned address
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:

Cheshire East Borough Council – Procurement of Fund Management Services

Reference number: CEC0002

II.1.2)Main CPV code

66171000

II.1.3)Type of contract

Services

II.1.4)Short description:

This tender process is for the procurement of fund management services to deliver the Cheshire and Warrington Development Fund (CWDF). The specific services the successful bidder will be required to deliver are detailed within the tender documents. The proposed CWDF is a 40m GBP fund which will be complementary to the Evergreen 1 fund established in 2011 and the Greater Manchester Evergreen 2 fund. The estimated annual contract value is expected to be within a range of 60 000 GBP and 100 000 GBP excluding VAT based upon historical expenditure, however, this is an estimate only. The outcome of the tender process will be a single contract with 1 service provider. The contract is for a 10 year term.

II.1.5)Estimated total value

Value excluding VAT: 1 000 000.00 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)

79412000
66170000
66100000

II.2.3)Place of performance

NUTS code: UKD
Main site or place of performance:

It is anticipated that the services will primarily be carried out across Cheshire and Warrington, with the possibility to invest anywhere in England subject to ERDF compliance.

II.2.4)Description of the procurement:

Established in 2011, Cheshire and Warrington Local Enterprise Partnership is a private sector-led organisation. It exists to help create the right conditions that will bring forward economic growth. The LEP area covers the three local authority areas of Cheshire East, Cheshire West and Chester and Warrington and its activities are geared towards achieving the objectives stated within the published Strategic Economic Plan. As part of a package of programmes to stimulate and drive growth, the LEP in conjunction with Cheshire East Borough Council as the accountable body, has secured £20m of European Regional Development Funds (ERDF) to establish an investment fund called the Cheshire and Warrington Development Fund (CWDF). The proposed CWDF will be complementary to the Evergreen 1 fund established in 2011 and the Greater Manchester Evergreen 2 fund. This tender process is for the procurement of fund management services to deliver the CWDF. As part of the contract, the successful service provider will be required to deliver the following services:

— Manage and market the fund and the entire investment cycle,

— Launch the fund,

— Market the fund,

— Manage all enquires,

— Generate applications to the fund,

— Secure a minimum of 20m GBP of match funding which can be at a fund or investee level,

— Identify, monitor and report co-investment in accordance with Article 1 of the Commission Implementing Regulation (821/2014),

— Work with other funds, funders, and investees, most notably Evergreen 1 to assess the benefit of adding this funding to wider funding packages for projects,

— Assess and develop the applications,

— Invest the funds,

— Carry out financial and commercial due diligence,

— Ensure all investments made are state aid compliant,

— Issue heads of terms,

— Make investment recommendations to the CWDF board,

— Issue contracts for investments,

— Monitor the investments and ensure repayments are made on time, and if not work with the applicant to take remedial action,

— Ensure outputs are achieved and recorded in compliance with ERDF guidelines.

The outcome of the tender process will be a single contract with one service provider. The contract is for a ten year term. The estimated annual contract value is expected to be within a range of 60 000 GBP and 100 000 GBP excluding VAT based upon historical expenditure, however, this is an estimate only. This is for information only, and no guarantees are given, nor are implied as to the value of business that will be placed with the successful service provider. CEBC accepts no liability for any inaccuracies in the estimates provided. CEBC reserves the right to vary the volume of work during the life of the contract. The contract will be available to the following, such that each of the following will be entitled to purchase services from the successful bidder at the discretion of Cheshire East Borough Council (CEBC) and subject to Public Procurement Regulations:

— CEBC and all subsidiary undertakings of CEBC both current and future

— The following CEBC partner organisations,

— Cheshire East Borough Council,

— Cheshire West and Chester Council,

— Warrington Borough Council,

— Cheshire and Warrington Local Enterprise Partnership,

— All parts of any current or future group structure of which CEBC is, or may become a part.

The cost/quality weighting split for this tender exercise is weighted 70 % quaity, 30 % cost.

The scored quality questions and their corresponding weighting (out of 70 %) are as follows:

— Experience of staff: 15 %,

— Risk management: 10 %,

— Outputs of the fund: 15 %,

— Project delivery (a) – Maximising the fund: 5 %,

— Project delivery (b) – Promoting the fund: 5 %,

— Project delivery (c) – Key milestones: 5 %,

— Understanding ERDF requirements: 15 %.

Please see the tender documents for the quality questions and detailed evaluation criteria.

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

Value excluding VAT: 1 000 000.00 GBP

II.2.7)Duration of the contract, framework agreement or dynamic purchasing system

Duration in months: 120
This contract is subject to renewal: no

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: yes
Identification of the project:

This tender process is for the procurement of fund management services for a £40 million investment fund. £20 million of this fund is made of funds secured from the European Regional Development Fund

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

List and brief description of conditions:

Any supplier may be disqualified who has been convicted of:

(a) conspiracy within the meaning of Section 1 or 1A of the Criminal Law Act 1977(a) or article 9 or 9A of the Criminal Attempts and Conspiracy (Northern Ireland) Order 1983(b) where that conspiracy relates to participation in a criminal organisation as defined in Article 2 of Council Framework Decision 2008/841/JHA on the fight against organised crime(c);

(b) corruption within the meaning of Section 1(2) of the Public Bodies Corrupt Practices Act 1889(d) or Section 1 of the Prevention of Corruption Act 1906(e);

(c) the common law offence of bribery;

(d) bribery within the meaning of Sections 1, 2 or 6 of the Bribery Act 2010(f), or Section 113 of the Representation of the People Act 1983(g);

(e) where the offence relates to fraud affecting the European Communities’ financial interests as defined by Article 1 of the Convention on the protection of the financial interests of the European Communities(h):

(i) the common law offence of cheating the Revenue;

(ii) the common law offence of conspiracy to defraud;

(iii) fraud or theft within the meaning of the Theft Act 1968(i), the Theft Act (Northern Ireland) 1969(j), the Theft Act 1978(k) or the Theft (Northern Ireland) Order 1978(l);

(iv) fraudulent trading within the meaning of Section 458 of the Companies Act 1985(m), Article 451 of the Companies (Northern Ireland) Order 1986(n) or Section 993 of the Companies Act 2006(o);

(v) fraudulent evasion within the meaning of Section 170 of the Customs and Excise Management Act 1979(p) or Section 72 of the Value-Added Tax Act 1994(q);

(vi) an offence in connection with taxation in the European Union within the meaning of Section 71 of the Criminal Justice Act 1993(r);

(vii) destroying, defacing or concealing of documents or procuring the execution of a valuable security within the meaning of Section 20 of the Theft Act 1968(s) or Section 19 of the Theft Act (Northern Ireland) 1969(t);

(viii) fraud within the meaning of Section 2, 3 or 4 of the Fraud Act 2006(u); or

(ix) the possession of articles for use in frauds within the meaning of Section 6 of the Fraud Act 2006, or the making, adapting, supplying or offering to supply articles for use in frauds within the meaning of Section 7 of that Act;

(f) any offence listed:

(i) in Section 41 of the Counter Terrorism Act 2008(a); or

(ii) in Schedule 2 to that act where the court has determined that there is a terrorist connection;

(g) any offence under Sections 44 to 46 of the Serious Crime Act 2007(b) which relates to an offence covered by subparagraph (f);

(h) money laundering within the meaning of Sections 340(11) and 415 of the Proceeds of Crime Act 2002(c);

(i) an offence in connection with the proceeds of criminal conduct within the meaning of Section 93A, 93B or 93C of the Criminal Justice Act 1988(d) or Article 45, 46 or 47 of the Proceeds of Crime (Northern Ireland) Order 1996(e);

(j) an offence under Section 4 of the Asylum and Immigration (Treatment of Claimants, etc. Act 2004(f));

(k) an offence under Section 59A of the Sexual Offences Act 2003(g);

(l) an offence under Section 71 of the Coroners and Justice Act 2009(h);

(m) an offence in connection with the proceeds of drug trafficking within the meaning of Section 49, 50 or 51 of the Drug Trafficking Act 1994(i); or

(n) any other offence within the meaning of Article 57(1) of the Public Contracts Directive:

(i) as defined by the law of any jurisdiction outside England and Wales and Northern Ireland; or

(ii) created, after the day on which these regulations were made, in the law of England and Wales or Northern Ireland.

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

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

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

Date: 05/11/2019
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: 05/11/2019
Local time: 12:01
Place:

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:

Tender documents must be accessed through the Cirrus Purchasing Intend eTender facility only. This tender process will incorporate a minimum 10 calendar day standstill period at the point information on the award is communicated to tenderers. Appeals can be directly raised via the contact points detailed in section VI.4.1 of this contract notice. The Public Contracts Regulations 2015 no102 provide for aggrieved parties who have been harmed or are at risk of harm by a breach of the rules to take action in the High Court (England, Wales and Northern Ireland). The contract will be available to the following, such that each of the following will be entitled to purchase services from the successful bidder at the discretion of CEBC and subject to Public Procurement Regulations:

— CEBC and all subsidiary undertakings of CEBC both current and future,

— The following CEBC partner organisations:

—— Cheshire East Borough Council,

—— Cheshire West and Chester Council,

—— Warrington Borough Council,

—— Cheshire and Warrington Local Enterprise Partnership.

— All parts of any current or future group structure of which CEBC is, or may become, a part Additional details of the required service can be found within the tender documents included on the Cirrus Purchasing Intend eTender system.

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

VI.4.3)Review procedure

Precise information on deadline(s) for review procedures:

This tender process will incorporate a minimum 10 calendar days standstill period at the point information on the award is communicated to tenderers. Appeals can be directly raised via the contact points detailed in Section VI.4.1) of this Contract Notice. The Public Contracts Regulations 2015 no102 provide for aggrieved parties who have been harmed or are at risk of harm by a breach of the rules to take action in the High Court (England, Wales and Northern Ireland).

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

VI.5)Date of dispatch of this notice:

04/10/2019