Tender

SS16057 - ACCESS LGPS Pool Operator

KENT COUNTY COUNCIL

This public procurement record has 1 release in its history.

Tender

05 Sep 2017 at 16:49

Tender Notice
Summary of the contracting process

The Kent County Council is conducting a tender for the contract titled "SS16057 - ACCESS LGPS Pool Operator" within the financial and insurance services industry, specifically focused on pension fund management. The procurement is currently in the open tender stage, with responses due by 6th October 2017. The contract, valued at £25 million, will commence on 1st February 2018 and conclude on 31st January 2025. This opportunity is available for any regulated financial services Operator to facilitate collective investment schemes exclusively for the ACCESS Pool, consisting of eleven UK local government pension schemes.

This tender presents a significant opportunity for businesses in financial services, particularly those specialising in pension fund management and investment operations. Companies that possess expertise in establishing and administering investment schemes, along with the necessary regulatory authorisations, would be well-positioned to compete. With the substantial value of the contract and the requirement for a variety of asset classes, businesses that can offer comprehensive investment management solutions should consider participating in this procurement process to expand their portfolio and client base.

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Notice Information

Notice Title

SS16057 - ACCESS LGPS Pool Operator

Notice Description

This procurement is being undertaken by Kent County Council on behalf of the ACCESS (A Collaboration of Central, Eastern and Southern Shires) Pool's ("the Pool") Administering Authorities; a pool of eleven UK Local Government pension schemes as listed below. The contract will also be accessible by any other LGPS Authority (for the list of LGPS member Authorities see http://www.lgpsboard.org/index.php/fund-annual-reports-2016) that joins the Pool at any time. The object of the procurement is a contract for the services of an FCA regulated, or EEA financial services regulated, Operator (the "Operator") who will be responsible for establishing and operating an umbrella Authorised Contractual Scheme ("ACS") and to facilitate the provision of other collective investment schemes for the benefit of the Pool, exclusively for the Pool. The ACCESS Pool Administering Authorities are Cambridgeshire County Council, East Sussex County Council, Essex County Council, Hampshire County Council, Hertfordshire County Council, Isle of Wight Council, Kent County Council, Norfolk County Council, Northamptonshire County Council, Suffolk County Council, and West Sussex County Council. On behalf of the Administering Authorities, Kent County Council are seeking to procure the services of an FCA regulated Operator (the "Operator") who will be responsible for establishing and operating an umbrella ACS and to facilitate the provision of other collective investment schemes for the benefit of the Pool, exclusively for the Pool. The Pool is expected to have in the region of 25-35 sub-funds. The Operator's key functions will be to establish investment sub-funds, and to appoint, manage and terminate investment managers of those funds and to operate and administer the Administering Authorities' investments in the ACS and other collective investment schemes in which the Administering Authorities invest. The Administering Authorities require all major asset classes to be available, including, as a minimum, equities, fixed income, multi asset and property. The successful Supplier will provide quarterly reporting to the Pool on a range of Monitoring Metrics and Key Performance Indicators. The successful Supplier will be required to apply for and obtain all the necessary regulatory authorisations required to operate the ACS. The Supplier will be required to exercise best endeavours to have the ACS ready for investment in order for the transfer of assets to occur. Further background and technical information can be found within the tender documentation. Contract award will be based on the Most Economically Advantageous Tender based upon the criteria specified within the Invitation to Tender. The Administering Authorities may choose to include optional ancillary services as detailed in the Invitation to Tender. These are not part of the core requirement, and do not form any part of the evaluation. Expressions of interest will only be accepted via the Kent Business Portal.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-58ca54b5-ddf0-4d89-af59-7846497bdae5
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/495e0183-fd4c-433c-8c3f-505dab3b44f3
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
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

66141000 - Pension fund management services

Notice Value(s)

Tender Value
£25,000,000 £10M-£100M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
5 Sep 20178 years ago
Submission Deadline
6 Oct 2017Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Feb 2018 - 31 Jan 2025 Over 5 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
KENT COUNTY COUNCIL
Contact Name
Katherine Clark
Contact Email
katherine.clark@kent.gov.uk
Contact Phone
+44 3000411290

Buyer Location

Locality
MAIDSTONE
Postcode
ME14 1XQ
Post Town
Rochester
Country
England
Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ4 Kent
Small Region (ITL 3)
TLJ45 Mid Kent
Delivery Location
Not specified
Local Authority
Maidstone
Electoral Ward
Penenden Heath
Westminster Constituency
Maidstone and Malling

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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