Award

NEF Legal Services 2020-2024

NORTH EAST ACCESS TO FINANCE LIMITED

This public procurement record has 2 releases in its history.

Award

10 Dec 2020 at 09:03

Award Notice
Tender

21 Sep 2020 at 09:46

Tender Notice
Summary of the contracting process

The procurement process concerns the awarding of legal services to North East Finance (Holdco) Limited, the managing entity of the Finance for Business North East (FBNE) Fund. The contract, valued at £300,000, is classified under portfolio management services and is located in the North East region of the United Kingdom. This tender, which has entered the award stage, commenced on 30 November 2020 and will extend until 29 November 2024. The procurement method employed is an open procedure, with the tender period concluding on 22 October 2020.

This opportunity is ideal for legal firms with expertise in private equity and venture capital, along with a sound understanding of financial services regulations and European structural funding compliance. Businesses that can demonstrate strong capabilities in managing Limited Partnership structures and addressing public sector economic interventions will likely find success in this tender process. The selected bidder will be positioned to establish a long-term working relationship with a key regional financial entity, fostering further potential collaborations in future regulatory and investment strategies.

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Notice Information

Notice Title

NEF Legal Services 2020-2024

Notice Description

North East Finance (Holdco) Limited (referred to as 'North East Finance') is the holding fund manager for the Finance for Business North East ('FBNE') Fund. FBNE operated through six sub-funds managed by independent fund managers, but lately this has been streamlined. North East Finance has fully repaid European Investment Bank loan and the emphasis is on the generation of a cash legacy from the portfolio to fund future investment programmes in the region. The contract will cover work for North East Finance and its two subsidiaries North East Finance (Subco) Limited and North East Technology (GP) Limited, each of which hold some of the assets of the FBNE Fund. North East Finance (Subco) Limited is authorised and regulated by the Financial Conduct Authority. North East Finance has full autonomy in investment matters. Its parent company North East Access to Finance Limited ('NEA2F') provides professional, administrative and compliance support. The two companies have independent Boards and accountability and have retained separate arrangements for procuring legal services. We are looking for a legal adviser to support the Chief Executive, the Company Secretary and the Board of North East Finance. This will include ensuring that the companies comply with their legal and regulatory requirements, as well as giving advice on general commercial issues as they arise. Most of our funds have been supported by the European Regional Development Fund and bidders must demonstrate a clear understanding of the regulatory requirements for ERDF. Specialist expertise will be necessary in private equity and venture capital, including financial services regulation; Limited Partnership structures and related legal agreements; European structural funding and compliance; State Aid advice relating to publicly funded bodies delivering venture capital funds; procurement, including OJEU and sub-OJEU procurements; other legal and regulatory issues relating to public sector economic interventions. General commercial advice will also be required on a range of matters. The contract will be for four years from November 2020. A full specification with details of the process for applying and the criteria by which the contract will be awarded are in the Invitation to Tender which is on the website www.northeastfinance.org. Additional information: Page limit is 15 pages of A4. Please specify the main client contact(s) and how you would manage client relationships. Please also give details of the rest of the proposed team, their roles, experience and track record. Brief CVs of key team members should be included. Bidders are asked to provide hourly rates for delivering the services. For purposes of comparison, we will look at 'headline rates' for Partners and Associates. We will assume these are fixed for the 4 years unless you state otherwise. You may include rates for other fee-earners but these 'headline rates' will be used for scoring the bids.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-9b39f8e0-a92a-4d03-a8fa-df6e5464efe9
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/cc1ef0f4-429e-4dbe-bcce-2a68b8fdfffc
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
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66140000 - Portfolio management services

Notice Value(s)

Tender Value
£300,000 £100K-£500K
Lots Value
Not specified
Awards Value
£300,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
10 Dec 20205 years ago
Submission Deadline
22 Oct 2020Expired
Future Notice Date
Not specified
Award Date
30 Nov 20205 years ago
Contract Period
30 Nov 2020 - 30 Nov 2024 4-5 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
NORTH EAST ACCESS TO FINANCE LIMITED
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

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

Supplier Information

Number of Suppliers
1
Supplier Name

WARD HADAWAY SOLICITORS

Further Information

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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