Award

Rosebud Investment Fund Management Services

LANCASHIRE COUNTY COUNCIL

This public procurement record has 2 releases in its history.

Award

04 Jun 2019 at 11:10

Award Notice
Tender

03 Apr 2019 at 14:28

Tender Notice
Summary of the contracting process

The Lancashire County Council is currently involved in a procurement process for the "Rosebud Investment Fund Management Services," aimed at establishing a single supplier framework for managing investment funds under the Rosebud finance scheme. This tender is classified under the banking and investment services category and is located in the North West region of the United Kingdom. The tender period ended on 1st May 2019, and the contract will commence on 1st July 2019, concluding on 30th June 2024. The procurement method used is an open procedure that meets above-threshold requirements, with a total contract value of £1,280,000.

This tender presents significant opportunities for small to medium enterprises (SMEs) and voluntary, community, and social enterprises (VCSEs) specialised in investment fund management. Businesses well-suited to compete in this procurement should have expertise in managing financial instruments tailored for growing businesses, particularly within the local Lancashire economic landscape. The new model for fund management encourages innovative approaches, making it an ideal opportunity for companies seeking to expand their footprint in public procurement and contribute to regional economic development.

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Notice Information

Notice Title

Rosebud Investment Fund Management Services

Notice Description

This tender is for the establishment of a single supplier framework agreement for the provision of an Investment Fund Management service for the Rosebud finance scheme. Rosebud finance (Rosebud) is a package of financial instruments for growing businesses in Lancashire County Council's administration area, provided by Lancashire County Developments Ltd (LCDL), which is a wholly owned subsidiary of the Council. Whilst Rosebud has been an effective economic development tool for over 30 years, the Council are tendering on the basis of a new model for delivery which requires the new fund managers to manage a re-specified range of funds/products and where investment decision making will be more fully devolved. The fund management service will work closely with LCDL to support the economic activities of the company and the Authority's Corporate Communications in the promotion of Rosebud.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-9fa4831c-a12c-4dc5-8035-e82b40c04013
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/c997142e-d9cb-4da0-a28d-ec8664228d55
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME, VCSE
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66100000 - Banking and investment services

Notice Value(s)

Tender Value
£320,000 £100K-£500K
Lots Value
Not specified
Awards Value
£1,280,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
4 Jun 20196 years ago
Submission Deadline
1 May 2019Expired
Future Notice Date
Not specified
Award Date
31 May 20196 years ago
Contract Period
30 Jun 2019 - 30 Jun 2024 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
LANCASHIRE COUNTY COUNCIL
Contact Name
Rachel Jennings
Contact Email
contractscorporate@lancashire.gov.uk
Contact Phone
01772 535026

Buyer Location

Locality
PRESTON
Postcode
PR1 8XJ
Post Town
Preston
Country
England
Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD4 Lancashire
Small Region (ITL 3)
TLD45 Mid Lancashire
Delivery Location
TLD North West (England)
Local Authority
Preston
Electoral Ward
City Centre
Westminster Constituency
Preston

Supplier Information

Number of Suppliers
1
Supplier Name

THE ENTERPRISE FUND LIMITED T/A GROWTH COMPANY BUSINESS FINANCE

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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