Award

For the provision of Fund Investment Adviser, Operator and Administrator Services for the Evergreen, Evergreen 2 and Low Carbon Funds

GREATER MANCHESTER COMBINED AUTHORITY

This public procurement record has 2 releases in its history.

Award

09 Oct 2024 at 10:07

Award Notice
Tender

27 Mar 2024 at 15:54

Tender Notice
Summary of the contracting process

The Greater Manchester Combined Authority (GMCA) has completed the procurement process for "Fund Investment Adviser, Operator and Administrator Services for the Evergreen, Evergreen 2 and Low Carbon Funds". This contract falls under the Financial and Insurance Services sector (CPV code: 66000000) and covers services divided into two lots focusing on Evergreen sub-funds and a Low Carbon sub-fund. The contract was awarded to CBRE Limited. Key details include an open procedure procurement method with an award date of 31st May 2024. The contract period will start on 3rd June 2024 and end on 2nd June 2028, with services to be delivered in England, United Kingdom.

This tender offers significant business growth opportunities, particularly for large firms specialising in financial and insurance services. The potential for an increase in funding value for the sub-funds and the possibility of reallocating resources emphasise the tender's scalability and adaptability, making it suitable for firms capable of handling variable project scopes. Companies experienced in fund management and advisory services would be well-positioned to benefit from the robust frameworks and substantial financial involvement stipulated in the tender.

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Notice Information

Notice Title

For the provision of Fund Investment Adviser, Operator and Administrator Services for the Evergreen, Evergreen 2 and Low Carbon Funds

Notice Description

The Authorities have engaged GMCA to act as their delivery agent to manage the administrative aspects of this procurement process. GMCA is not the procuring contracting authority for this procurement process and will not be party to any contract(s) entered into. This tender has been divided into 2 lots: a) Lot 1 - the provision of the Services to the Evergreen and Evergreen 2 sub-funds; and b) Lot 2 - the provision of the Services to the Low Carbon sub-fund. As explained in the contract notice, the scope of the Services may expand and / or contract over the term of the contract(s) to reflect changes to the funding that is made available. Such changes may include, in particular: (a) increases of up to a maximum 100% of the value of the funds that are made available to the Evergreen and Evergreen 2 and Low Carbon sub-funds (from ERDF funds and/or other funding sources). The currently available funds are PS60m for Evergreen, PS60m for Evergreen 2 and PS30m for Low Carbon. An increase of up to 100% of the value of the sub-funds would take the sub-fund values up to a maximum amount of PS120m for Evergreen and PS120m for Evergreen 2; and PS60m for Low Carbon (b) the reallocation of available funds between the Evergreen 2 and Low Carbon sub-funds (as appropriate) based on factors impacting the performance of the relevant sub-fund including, but not limited to, the successful Tenderer's performance and/or available pipeline. Tenderers should ensure that they are capable of performing the expanded and / or contracted Services and that the pricing submission in the Tender for the Lot (to become the contractual pricing) will apply equally to any expanded and / or contracted scope (on a pro rata basis, where applicable). The contractual terms The contractual framework for the Services is provided with this ITT, in Annexes 2, 3 and 6. Annex 2 - Services Specification contains the service specification for the Investment Adviser which will form Schedule 1 of each Investment Adviser and Operator Agreement (which will be identical for each contract, except as indicated in the spec All Tender documentation can be found at https://www.the-chest.org.uk/

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-08a99321-2874-4912-8d4f-f8a9b205f5f3
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/fdcb9973-fe73-4356-b6f9-24dfe663e4da
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£752,000 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
9 Oct 20241 years ago
Submission Deadline
3 May 2024Expired
Future Notice Date
Not specified
Award Date
30 May 20241 years ago
Contract Period
2 Jun 2024 - 2 Jun 2028 4-5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
GREATER MANCHESTER COMBINED AUTHORITY
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
SALFORD
Postcode
M27 8US
Post Town
Manchester
Country
England
Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD3 Greater Manchester
Small Region (ITL 3)
TLD34 Greater Manchester South West
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)
Local Authority
Salford
Electoral Ward
Swinton Park
Westminster Constituency
Salford

Supplier Information

Number of Suppliers
1
Supplier Name

CBRE

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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