Tender for Pension Fund Investment Management
Management of an investment in unlisted infrastructure equity through a pooled fund vehicle.
United Kingdom-Swansea: Pension investment services
2017/S 031-055883
Contract notice
Services
Directive 2014/24/EU
Section I: Contracting authority
I.1)Name and addresses
Oystermouth Road
Swansea
SA1 3SN
United Kingdom
Contact person: Jeffrey Dong
E-mail: Jeffrey.dong@swansea.gov.uk
NUTS code: UKL18
I.3)Communication
2nd Floor, 36 Queen Street
London
EC4R 1BN
United Kingdom
Contact person: Guy Hopgood
Telephone: +44 2077478627
E-mail: ghopgood@bfinance.com
NUTS code: UKI12Internet address(es):Main address: https://impp.bfinance.com/
2nd Floor, 36 Queen Street
London
EC4R 1BN
United Kingdom
Contact person: Guy Hopgood
Telephone: +44 2077478627
E-mail: ghopgood@bfinance.com
NUTS code: UKI12
I.4)Type of the contracting authority
I.5)Main activity
Section II: Object
II.1.1)Title:
Pension Fund investment.
II.1.2)Main CPV code
II.1.3)Type of contract
II.1.4)Short description:
The Pension Fund of the City and Council of Swansea invites proposals for the management of an investment in unlisted infrastructure equity through a pooled fund vehicle. The Pension Fund of the City and Council of Swansea does not wish to be contacted during the tender process. Please contact bfinance for any queries regarding the tender.
II.1.6)Information about lots
II.2.3)Place of performance
II.2.4)Description of the procurement:
Preference for an absolute return/IRR of 7-10 %+ p.a., with a cash yield of 4 %+ (net of all fees)
Type of management:
— Active.
— Core+/Value-add (also open to Core, not open to Opportunistic).
Allocation:
— Preference for Brownfield/Operational assets.
— Open to some Greenfield exposure but this should not make up the majority of the Fund (max. 50 %).
— Unlisted equity focused strategies.
Portfolio Diversification:
— Broadly Diversified exposure expected in terms of assets.
Portfolio Term and Duration:
— Long term illiquid exposure is expected, any liquidity windows would also be considered.
Geographical Exposure:
— Preferably OECD-focused, with maximum non-OECD exposure of 20 %.
— Emerging Markets exposure acceptable within global strategies but should be less than 20 %.
Other Criteria
— Regulated entity.
— Some realized assets in the track record are preferred.
— Fund should be a minimum size of 400 000 000 GBP.
— Minimum 750 000 000 GBP AUM in asset class.
II.2.5)Award criteria
II.2.7)Duration of the contract, framework agreement or dynamic purchasing system
It is intended that the contract will continue in force until such time as is determined in accordance with the provisions contained in the contract.
II.2.10)Information about variants
II.2.11)Information about options
II.2.13)Information about European Union funds
II.2.14)Additional information
See the tender documentation. The procurement documents can be obtained on the bfinance websitehttps://impp.bfinance.com/ Alternatively you may contact bfinance using the email addressSwanseaInfrastructureEquity@bfinance.com
Section III: Legal, economic, financial and technical information
III.1.1)Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers
See the procurement documents.
III.1.2)Economic and financial standing
III.1.3)Technical and professional ability
III.2.1)Information about a particular profession
An institution authorised to accept deposits in the United Kingdom. Providers must be authorised under the Financial Services Act 1986 or any equivalent legislation in any EU member state. Providers must satisfy the requirements of the Superannuation Act 1972 and the Local Government Pension Scheme (Management and Investment of Funds) regulations 1998 (as amended).
III.2.2)Contract performance conditions:
See the procurement documents.
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
Section VI: Complementary information
VI.1)Information about recurrence
VI.4.1)Review body
2nd Floor, 36 Queen Street
London
EC4R 1BN
United Kingdom
VI.4.3)Review procedure
As detailed in procurement documents.
VI.5)Date of dispatch of this notice:
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