Tender

Finance Durham Fund - Investment Fund Management Service

DURHAM COUNTY COUNCIL

This public procurement record has 1 release in its history.

Tender

24 Feb 2022 at 11:48

Tender Notice
Summary of the contracting process

Durham County Council is seeking a single FCA regulated fund manager for the Finance Durham Fund, a £20 million investment fund focused on providing debt, mezzanine, and equity finance to enterprises primarily in County Durham. The procurement is currently at the Tender stage, with bids due by 29th March 2022. The contract is expected to commence on 1st August 2022 and continue until 31st July 2027. The tender documents are available for public access, documenting this selective procurement method classified under financial and insurance services.

This tender presents a prime opportunity for businesses in the financial services sector, particularly those with expertise in fund management and portfolio oversight. Small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprises (VCSEs) may find this an ideal competition, given the focus on supporting SMEs within the Finance Durham Fund framework. Companies capable of providing access to finance and related business support services will be well-positioned to respond to this opportunity for growth and collaboration with Durham County Council.

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Notice Information

Notice Title

Finance Durham Fund - Investment Fund Management Service

Notice Description

DCC operates a PS20m investment fund (the Finance Durham Fund) to invest in enterprises (via debt, mezzanine and equity finance) across County Durham. Though not exclusively for SMEs, investees to date have been SMEs and it is anticipated that investees will be largely be SMEs in the future. The Fund is 100% financed by DCC and is operated on a commercial basis to deliver both an economic development impact and financial return to the Authority over the longer term. The Finance Durham fund is structured as 'Evergreen' - that is, to provide debt and equity finance on an ongoing / permanent basis through the recycling of investment and interest returns to the Fund. The Purpose of this procurement is to procure the services of a single FCA regulated fund manager, following the completion of the contractual term, to undertake the following activity in relation to the Finance Durham Fund: 1. Investment Fund Management 2. Portfolio management 3. Provision of access to finance (A2F) business support activity . The procurement documents are available for unrestricted and full direct access, free of charge, at www.nepo.org

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-a1728edf-3ef9-4dda-b325-4f35249dbe02
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/eb42b20f-ad65-4a8b-95c8-f8dc768f0cb8
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure
Tender Suitability
SME, VCSE
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
£350,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
24 Feb 20224 years ago
Submission Deadline
29 Mar 2022Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
31 Jul 2022 - 31 Jul 2027 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
DURHAM COUNTY COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
DURHAM
Postcode
DH1 5UE
Post Town
Durham
Country
England
Major Region (ITL 1)
TLC North East (England)
Basic Region (ITL 2)
TLC4 Northumberland, Durham and Tyne & Wear
Small Region (ITL 3)
TLC41 Durham
Delivery Location
Not specified
Local Authority
County Durham
Electoral Ward
Neville's Cross
Westminster Constituency
City of Durham

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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