Award

Warwickshire Recovery & Investment Fund: External Fund Management Services - Local Communities & Enterprise

WARWICKSHIRE COUNTY COUNCIL

This public procurement record has 2 releases in its history.

Award

24 Jan 2022 at 11:40

Award Notice
Tender

02 Sep 2021 at 16:57

Tender Notice
Summary of the contracting process

Warwickshire County Council is conducting an open procedure procurement process for the contract titled "Warwickshire Recovery & Investment Fund: External Fund Management Services - Local Communities & Enterprise." This tender focuses on the financial services industry and is based in the West Midlands, England. The procurement is currently in the award stage, having been published on 2nd September 2021, with a tender period deadline of 4th October 2021. The contract is set to start on 29th November 2021, with a total estimated value of £800,000 and a minimum contract value of £200,000. The duration of the agreement could extend up to 14 years if additional extensions are granted by the Council, with an initial term of five years dedicated to investment activity.

This tender presents significant opportunities for businesses, particularly smaller enterprises, new start-ups, and social enterprises aiming to enhance their funding capabilities. Eligible suppliers include micro and small businesses with less than 50 employees and medium-sized enterprises up to 250 employees on a case-by-case basis. The successful Fund Manager will oversee the Local Communities and Enterprise Pillar of the Warwickshire Recovery Investment Fund, valued at approximately £10 million, which is designed to support local communities and initiatives for long-term recovery and growth. Companies with expertise in fund management and experience in working with small enterprises will find this opportunity particularly suitable for business growth.

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Notice Information

Notice Title

Warwickshire Recovery & Investment Fund: External Fund Management Services - Local Communities & Enterprise

Notice Description

The Warwickshire Recovery Investment Fund (WRIF) specifically addresses a gap that has been identified in the market for access to finance. The aim is to distribute PS140 million over the next five years, offering loans and other financial investments to existing and new businesses to help their long-term recovery and growth. The WRIF will comprise of three pillars of support: * Business Investment Growth - Debt finance to growing medium and larger businesses with sound prospects (likely to be in the region of PS90 million). * Local Communities and Enterprise - Smaller loans in order to support small businesses, including start-ups and social enterprises (likely to be in the region of PS10 million). * Property and Infrastructure - Investment in commercial sites and premises to encourage businesses to invest in Warwickshire and create jobs. (likely to be in the region of PS40 million). Warwickshire County Council ('the Council') is seeking an External Fund Manager to manage one element of the Warwickshire Recovery and Investment Fund (WRIF); the Local Communities and Enterprise Pillar. This ITT relates to the requirement for the Local Communities and Enterprise Pillar. The Local Communities and Enterprise Pillar is aimed at smaller businesses, new business start-ups, early phase businesses, and social enterprises. The focus is on micro (less than 10 employees) and small businesses (less than 50 employees) but will consider applications from medium-sized enterprises up to 250 employees on a case by case basis. The Fund Manager will be responsible for the set up and day to day management and administration of the Fund for the Local Communities and Enterprise Pillar. Warwickshire County Council will be using its e-tendering system (In-Tend) for the administration of this procurement process and providers must register with the system to be able to express an interest. The web address is: www.csw-jets.co.uk Registration and use of In-Tend is free. Once registered, all correspondence for this procurement process must be via the in-tend correspondence function. However, if you are unable to register with the website please email us at procurement@warwickshire.gov.uk Additional information: The contract term will be for an Initial Term of 5 years of investment activity, which is likely to be followed by up to 7 years of monitoring and managing the loan book. The Council (at its sole discretion) may extend the Initial Term of 5 years by a further period or periods not exceeding in total a further nine (9) years by giving the Fund Manager reasonable (in the Council's opinion) written notice prior to the expiry of the Initial Term or any extension to the term. Any such extension shall be for a minimum period of six (6) months and the overall term of this Agreement shall not in any event exceed fourteen (14) years commencing on the Start Date. During the course of the contract period the range and scope of these services may be subject to modification and variation to meet the changing needs and requirements of the Council, potential changes in legislation and the changing demands placed on the Council by its customers.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-1e052776-3ccc-4d55-aa70-60939dcf2d35
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/2c6a5fb0-2d99-415c-b57f-1169a4f2bb04
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 (above threshold)
Tender Suitability
SME, VCSE
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£800,000 £500K-£1M
Lots Value
Not specified
Awards Value
£1,393,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
24 Jan 20224 years ago
Submission Deadline
4 Oct 2021Expired
Future Notice Date
Not specified
Award Date
17 Dec 20214 years ago
Contract Period
3 Jan 2022 - 2 Jan 2036 Over 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
WARWICKSHIRE COUNTY 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
WARWICK
Postcode
CV34 4RL
Post Town
Coventry
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG1 Herefordshire, Worcestershire and Warwickshire
Small Region (ITL 3)
TLG13 Warwickshire CC
Delivery Location
TLG West Midlands (England)
Local Authority
Warwick
Electoral Ward
Warwick Saltisford
Westminster Constituency
Warwick and Leamington

Supplier Information

Number of Suppliers
1
Supplier Name

COVENTRY AND WARWICKSHIRE REINVESTMENT TRUST

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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