Tender

Investment Advisory Service

NORTH EAST FINANCE (HOLDCO) LIMITED

This public procurement record has 2 releases in its history.

TenderAmendment

15 Oct 2019 at 15:02

Tender Notice
Tender

10 Oct 2019 at 10:28

Tender Notice
Summary of the contracting process

The North East Finance (Holdco) Limited is seeking tenders for an Investment Advisory Service related to its Finance for Business North East Fund (FBNE), fully invested in various sectors including technology and manufacturing. This open procedure tender, classified under financial and insurance services, will accept bids until 11th November 2019. The awarded contract, valued between £500,000 and £2,000,000, is expected to begin on 1st January 2020 with a minimum duration of two years, potentially extendable for a further three years, depending on performance and needs.

This tender presents a significant opportunity for advisory firms specialising in finance and investment, particularly those with experience in managing portfolios across diverse sectors, such as technology and growth businesses. Businesses capable of offering independent advisory services and possessing an understanding of the local economic landscape in the North East of England will be well-positioned to compete. Engaging with this contract can facilitate growth and enhance visibility within the investment advisory sector, especially for SMEs looking to expand their service offerings.

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Notice Information

Notice Title

Investment Advisory Service

Notice Description

The Contracting Authority is the Holding Fund Manager for the Finance for Business North East Fund (FBNE) which is now fully invested. The investment programme was funded in part by a loan from the European Investment Bank (now fully repaid) and in part by European Structural funds and UK Government grants. It was delivered through 7 sub-funds, each with its own regulated fund manager. Investments were predominantly equity, with some debt and mezzanine, in a wide range of sectors, from micro-businesses to innovative technology firms and established manufacturers. This tender is concerned with three of the sub-funds, where current fund management is due to come to an end in Q1 2020. These portfolios are the Technology Fund, the Angel Fund and the Growth Plus Fund. Tenders are invited for a single provider to deliver an independent investment and corporate finance advisory service, to assist with oversight and realisations of the portfolio and to advise the Board on realisation strategies and opportunities. Bidder should have an understanding of the key business and technology sectors in the portfolio. The contract is for an initial 2 year term, extendable to 3 years on the same terms. Thereafter, depending on need and progress with realisations, there may be an option to extend by a further 1 to 2 years. This will be an advisory service and not a Limited Partnership structure, and decisions on disposals will be reserved to the Board, rather than a fund manager with full discretion. Some other residual assets may be added to the portfolio after the initial 2 years, subject to discussion. Full details are in the Invitation to Tender and the draft service agreement appended to it, together with the subsequent Clarification Notice. Additional information: Bidders should note that there is a Clarification Notice which should be read alongside the Invitation to Tender.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-4afd5754-2a48-4d56-9183-e8aae6b79757
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/935df339-6450-4223-a3f2-d9ee3214761e
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£2,000,000 £1M-£10M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
15 Oct 20196 years ago
Submission Deadline
11 Nov 2019Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Jan 2020 - 1 Jan 2022 2-3 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NORTH EAST FINANCE (HOLDCO) LIMITED
Contact Name
James Arkless
Contact Email
james.arkless@nea2f.co.uk
Contact Phone
0191 499 8552

Buyer Location

Locality
GATESHEAD
Postcode
NE8 3DF
Post Town
Newcastle upon Tyne
Country
England
Major Region (ITL 1)
TLC North East (England)
Basic Region (ITL 2)
TLC4 Northumberland, Durham and Tyne & Wear
Small Region (ITL 3)
TLC43 Tyneside
Delivery Location
TLC North East (England)
Local Authority
Gateshead
Electoral Ward
Bridges
Westminster Constituency
Gateshead Central and Whickham

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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