Investment Management Contract – Lancashire

Investment Management Contract – Lancashire

This tender is for the establishment of a contract for the provision of investment fund management services for the Lancashire Urban Development Fund.

United Kingdom-Preston: Banking and investment services

2020/S 146-360583

Contract notice

Services

Legal Basis:

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

Official name: Lancashire County Council
Postal address: County Hall
Town: Preston
NUTS code: UKD4 Lancashire
Postal code: PR1 0LD
Country: United Kingdom
Contact person: Rachel Green
E-mail: contractscorporate@lancashire.gov.uk
Internet address(es):Main address: https://www.lancashire.gov.uk/isupplier/

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://www.lancashire.gov.uk/isupplier/
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

Economic and financial affairs

Section II: Object

II.1)Scope of the procurement

II.1.1)Title:

Lancashire Urban Development Fund Investment Management Services

Reference number: RJ/CORP/LCC/19/920

II.1.2)Main CPV code

66100000 Banking and investment services

II.1.3)Type of contract

Services

II.1.4)Short description:

The Lancashire Urban Development Fund (LUDF) will provide capital to fill finance gaps for private sector developers that aim to build workspace in Lancashire, operating on the basis of investing in developments to bring forward activity that the market would not otherwise invest in. It is intended that the LUDF will promote economic growth in Lancashire by providing a mechanism to bring forward fit-for-purpose industrial and commercial premises for SME’s in Lancashire’s priority growth sectors and help to unlock key strategic employment sites to support growth. This tender is for the establishment of a contract for the provision of investment fund management services for the LUDF. As the LUDF is part-funded by ERDF grant funding all investments and services will be required to be undertaken in accordance with EU rules and regulations, including in a state aid compliant manner. All of the requirements will be detailed within the ITT, the specification and the contract documentation.

II.1.5)Estimated total value

Value excluding VAT: 1 650 000.00 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)

II.2.3)Place of performance

NUTS code: UKD4 Lancashire

II.2.4)Description of the procurement:

This tender is for the establishment of a contract for the provision of Fund Management Services (the Services as set out in the Specification) for the LUDF. The appointed service provider will be responsible for managing all the affairs of the fund including the making of investment decisions at all stages through to term, disposal or exit/realisation. The contract will require the service provider to agree to the achievement of Key Performance Indicators (KPIs) related to the investment of the funds. As the LUDF is part-funded by ERDF grant funding all investments and Services will be required to be undertaken in accordance with EU rules and regulations, including in a state aid compliant manner. All of the requirements will be detailed within this ITT, the specification and the contract documentation.

The outcome of the tender process will be a single contract with one service provider. The contract is for a 5-year term.

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: 1 650 000.00 EUR

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

Duration in months: 60
This contract is subject to renewal: yes
Description of renewals:

The contract is available for up to a 5-year period, following which there may be an opportunity for a re-procurement. The contract (investment management agreement) included within the tender pack outlines any break clauses or period within the awarded term.

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:

EU funds relating to the Lancashire Urban 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:

The service provider must be a professionally qualified and authorised fund manager as outlined in the specification.

The service provider should have and continue to hold all necessary regulatory approvals from the regulatory bodies necessary to perform the service provider’s obligations in the delivery of the LUDF for the duration of this contract.

The service provider must act in accordance with best practice in the financial services industry in the United Kingdom and adhere to all regulatory requirements and legislation relevant to the provision of the services.

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: 04/09/2020
Local time: 10:00
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: 4 (from the date stated for receipt of tender)

IV.2.7)Conditions for opening of tenders

Date: 04/09/2020
Local time: 14:00

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: yes
Estimated timing for further notices to be published:

Following the contract term there is potential (but not guarantee) for the procurement to be re-procured. The service provider will be notified of this and the re-procurement advertised compliantly and accordingly.

VI.2)Information about electronic workflows
VI.3)Additional information:
VI.4)Procedures for review

VI.4.1)Review body

Official name: Royal Courts of Justice — The High Court
Town: London
Postal code: WC2A 2LL
Country: United Kingdom
Telephone: +44 2079476000Internet address: https://courttribunalfinder.service.gov.uk/courts/royal-courts-of-justice
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

Official name: Lancashire County Council
Town: Preston
Postal code: PR1 8XJ
Country: United Kingdom

VI.5)Date of dispatch of this notice:

29/07/2020