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GB-Sheffield: External Audit of British Growth Partnership (BGP) Fund

British Business Bank

This public procurement record has 1 release in its history.

Award

23 Oct 2026 at 10:30

Award Notice
Summary of the contracting process

British Business Bank procured annual external audit services for British Growth Partnership (BGP) Fund I LP. The requirement is to provide an annual external audit of the fund, rather than a broader audit or financial advisory service. The buying organisation is British Business Bank, based in Sheffield. The procurement is for auditing services; the stated delivery locations span the United Kingdom and several international areas, including Europe, the Channel Islands and the Isle of Man. This gives the requirement a broad geographic reach, although the core work is the recurring audit of a specific investment fund. The selected supplier is an audit firm able to undertake external fund audits for a public financial institution.

The procurement is complete and the contract was awarded to Grant Thornton UK LLP. The award date was 20 February 2026. The awarded value is £350,200. The contract period runs from 12 October 2026 to 31 July 2029, covering annual external audits of BGP Fund I LP. The requirement was competed further through the Government Commercial Agency’s Audit and Assurance Services Two framework. The tender deadline was 9 January 2026. The procurement is classified as a services contract. The published process records the tender as complete and the award as active. No lots are identified. No evaluation criteria or eligibility requirements are stated in the available procurement information.

For audit firms, this award demonstrates recurring demand from British Business Bank for an annual external audit of a dedicated investment fund. A credible competitor would need established external-audit capability and relevant experience auditing investment funds, together with the capacity to deliver annual audit work across a multi-year engagement. The successful provider was a large audit firm, indicating that experience and organisational capacity to serve a public financial institution are relevant benchmarks for this requirement. The procurement was run as a further competition under the Audit and Assurance Services Two framework, so access to that framework would be important to compete through the same route. Firms seeking similar work should be able to support the audit of a fund with an international delivery footprint, while keeping the offer focused on statutory-style external audit rather than unrelated financial services.

How relevant is this notice?

Notice Information

Notice Title

GB-Sheffield: External Audit of British Growth Partnership (BGP) Fund

Notice Description

The British Business Bank require the provisions of an annual external audit of BGP Fund I LP. This was procured via a further competition using GCA's Audit and Assurance Services Two (A&AS2) Framework Agreement - RM6310 Additional information: This was procured via a further competition on GCA's Audit and Assurance Services Two (A&AS2) Framework Agreement - RM6310

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-50a61c74-820b-4f8a-a4d2-907586497422
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/1cb23380-9b46-49c9-a99a-e4e3bbba0091
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Not specified
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

79212000 - Auditing services

Notice Value(s)

Tender Value
£350,200 £100K-£500K
Lots Value
Not specified
Awards Value
£350,200 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
23 Oct 20264 days ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
20 Feb 20268 months ago
Contract Period
12 Oct 2026 - 31 Jul 2029 2-3 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
British Business Bank
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
SHEFFIELD
Postcode
S1 2GQ
Postcode Area
Sheffield
Country
England
Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE3 South Yorkshire
Small Region (ITL 3)
TLE32 Sheffield
Delivery Location
Not specified
Local Authority
Sheffield
Electoral Ward
City
Westminster Constituency
Sheffield Central

Supplier Information

Number of Suppliers
1
Supplier Name

Grant Thornton UK LLP

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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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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