Award

LGPS Central Pooling and Collective Investment Vehicle Legal Advice

WOLVERHAMPTON CITY COUNCIL

This public procurement record has 1 release in its history.

Award

18 Nov 2016 at 20:17

Award Notice
Summary of the contracting process

The procurement process for the contract titled "LGPS Central Pooling and Collective Investment Vehicle Legal Advice" is led by Wolverhampton City Council, aimed at providing legal services within the financial industry. This contract is significant due to its context in establishing a Collective Investment Vehicle as part of the Government’s asset pooling initiative for Local Government Pension Schemes (LGPS). The procurement is currently in the Award stage, having been active since the contract award date of 24th August 2016, with a contract value of £247,887.50. The contract period extends from 22nd August 2016 to 31st March 2018, indicating a tight timeline for completion of deliverables by the set deadline of 1st April 2018 in the West Midlands region of the United Kingdom.

This tender presents substantial opportunities for law firms specialising in financial and regulatory compliance, particularly those experienced in working with public sector pensions and investment vehicles. With the need for development and governance of the Operator, as well as procurement of asset servicing and related financial advisory roles, businesses equipped with expertise in these areas would be well-suited to compete. This contract could significantly contribute to business growth by establishing pivotal relationships within the public sector and enhancing credibility in the legal and financial advisory landscape.

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Notice Information

Notice Title

LGPS Central Pooling and Collective Investment Vehicle Legal Advice

Notice Description

In response to the Government's criteria for pooling assets, Local Government Pension Scheme (LGPS) Central has decided to build a Collective Investment Vehicle (CIV) structure to pool investments. The CIV model will include an Operator, which will be incorporated as a private company. The Operator will also be set-up as an alternative investment fund manager (AIFM) and regulated by the Financial Conduct Authority (FCA). The Operator will manage a Pool containing a number of vehicles, including an Authorised Contractual Scheme (ACS) and other vehicles (e.g. limited partnerships), yet to be confirmed. A Shareholders' Forum (consisting of the Pensions Committee Chairs of the participating authorities) will act as the Supervisory Body of the Operator. A Practitioners' Advisory Forum (consisting of Pension Fund Officers) will support the Shareholders' Forum and act as the day-to-day liaison between the Shareholders' Forum and the Operator. The deadline for the establishment of the outlined structure is 1st April 2018. As such, LGPS Central is now seeking advice and hands-on implementation support and delivery as set out below. Summary Requirements: Support LGPS Central in the delivery, by 1st April 2018, of:- 1. The establishment of the Operator and Pool Vehicles, including FCA registration 2. The Governance and target operating model 3. The procurement of an Asset Servicer, advisors, auditors, bankers 4. Tax advice for both the Operator and Pool Vehicles Additional information: On behalf of West Midlands Pension Fund.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-1c6575b2-adca-11e6-9901-0019b9f3037b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/e2aab92c-3de0-4ee2-a96a-f3ae342ecff1
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Not specified
Procurement Method
Not Specified
Procurement Method Details
Other -
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79100000 - Legal services

Notice Value(s)

Tender Value
£247,887 £100K-£500K
Lots Value
Not specified
Awards Value
£247,887 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
18 Nov 20169 years ago
Submission Deadline
21 Jul 2016Expired
Future Notice Date
Not specified
Award Date
23 Aug 20169 years ago
Contract Period
21 Aug 2016 - 31 Mar 2018 1-2 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
WOLVERHAMPTON CITY COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
WOLVERHAMPTON
Postcode
WV1 1RL
Post Town
Wolverhampton
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG39 Wolverhampton
Delivery Location
TLG West Midlands (England)
Local Authority
Wolverhampton
Electoral Ward
St Peters
Westminster Constituency
Wolverhampton West

Supplier Information

Number of Suppliers
1
Supplier Name

EVERSHEDS

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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