Fund Manager Tender Truro
Selection of a Fund Manager to manage the South West Loans Fund II.
United Kingdom-Truro: Financial and insurance services
Section I: Contracting authority
I.1)Name and addresses
Postal address: Lowena House, Glenthorne Court, Truro Business Park, Threemilestone
NUTS code: UKK
Postal code: TR4 9NY
Country: United Kingdom
Contact person: Jenny Nott
I.4)Type of the contracting authority
Section II: Object
Selection of a Fund Manager to manage the South West Loans Fund II
II.1.2)Main CPV code
II.1.3)Type of contract
South West Investment Group (Capital) Ltd (SWIGC) wishes to appoint a Fund Manager to manage the South West Loans Fund II (the Fund), which will provide loans to small- medium-sized businesses in certain areas in the South West, which cannot obtain their full lending requirements from other financial sources.
II.1.5)Estimated total value
II.1.6)Information about lots
II.2.3)Place of performance
The following Local Economic Partnership (LEP) areas: Heart of the South West LEP, West of England LEP, Gloucestershire LEP, Dorset LEP, Swindon and Wiltshire LEP.
II.2.4)Description of the procurement:
South West Investment Group (Capital) Ltd (SWIGC) wishes to appoint a Fund Manager to manage the South West Loans Fund II (the Fund), which comprises of resources from SWIGC and the legacy from the Competitiveness ERDF South West Loans Fund, the Microcredit Loans Fund and the Cleantech Low Carbon Mezzanine Co-Investment Fund.
The Fund will provide loans of between GBP 25 000 and GBP 250 000 to small- and medium-sized incorporated businesses which cannot obtain their full lending requirements from other financial sources in the following Local Economic Partnership (LEP) areas: Heart of the South West LEP, West of England LEP, Gloucestershire LEP, Dorset LEP, Swindon and Wiltshire LEP. For fund modelling purposes it is expected that an initial investment of GBP 5.73 million, plus reinvestment of returns, will be invested in 180 businesses at an average of GBP 60 000 over a 5-year period.
II.2.7)Duration of the contract, framework agreement or dynamic purchasing system
II.2.10)Information about variants
II.2.11)Information about options
II.2.13)Information about European Union funds
Following the relevant consents, the fund is, in part, resourced by legacy monies from various funds which were to some extent supported by ERDF/EU finance. However, given that the original ERDF funds have been recycled through previous lending activity, the financing is now to be treated as ‘other public monies’ for regulatory and compliance purposes.
Section III: Legal, economic, financial and technical information
III.1.2)Economic and financial standing
III.1.3)Technical and professional ability
III.2.3)Information about staff responsible for the performance of the contract
Section IV: Procedure
IV.1.1)Type of procedure
IV.1.8)Information about the Government Procurement Agreement (GPA)
IV.2.2)Time limit for receipt of tenders or requests to participate
IV.2.4)Languages in which tenders or requests to participate may be submitted:
IV.2.6)Minimum time frame during which the tenderer must maintain the tender
IV.2.7)Conditions for opening of tenders
Section VI: Complementary information
VI.1)Information about recurrence
Postal address: Royal Courts of Justice, Strand
Postal code: WC2A 2LL
Country: United Kingdom
In accordance with Regulations 86 and 87 of the Public Contracts Regulations 2015 (the Regulations), the contracting authority will incorporate a minimum 10 calendar day standstill period at the point information on the award of the contract is communicated to tenderers. Following this standstill period, the regulations provide that aggrieved parties who have been harmed or who are at risk of harm by a breach of the regulations can bring proceedings in the High Court (England, Wales and Northern Ireland). Any such proceedings must be brought within the limitation period specified by the Regulations according to the remedy sought.
VI.5)Date of dispatch of this notice: