Award

LGPS Central Depositary and Asset Services

WOLVERHAMPTON CITY COUNCIL

This public procurement record has 2 releases in its history.

Award

15 Jun 2017 at 11:14

Award Notice
Tender

19 Dec 2016 at 14:06

Tender Notice
Summary of the contracting process

The procurement process titled "LGPS Central Depositary and Asset Services" is being conducted by Wolverhampton City Council. This initiative falls under the financial and insurance services industry and is aimed at providing depositary, custody, registrar, transfer agency, and administration services as part of an investment pooling strategy for eight local government pension funds within the Midlands. Key dates include the tender period, which closed on 16 January 2017, and the contract period commencing on 19 June 2017, concluding on 30 November 2028. The procurement method applied is selective, specifically through a restricted procedure, involving a two-stage process for bid evaluation.

This contract presents significant opportunities for firms engaged in financial services and asset management, especially those with experience in providing comprehensive administrative services and custody operations. Businesses that are well-positioned to compete include larger firms with the capacity to handle substantial contracts, given the minimum contract value of £10 million and a total estimated value of £20 million. The successful provider will support a collaborative investment initiative, potentially enhancing their visibility and reputation while contributing to cost savings for public sector pension schemes.

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Notice Information

Notice Title

LGPS Central Depositary and Asset Services

Notice Description

LGPS Central Limited is seeking a provider to undertake depositary and custody services; registrar and transfer agency services; and administration services. The successful bidder will enter into one or more contracts to provide these services. Information about LGPS Central: Eight Local Government Pension Funds, all based in the Midlands, intend to create an investment pool. Which will see the creation of a multi asset investment pool of PS35 billion. The Participating Funds in the LGPS Central Investment Pool are Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, West Midlands (including the West Midlands Integrated Transport Authority) and Worcestershire. The collaboration will aim to deliver cost savings and to build on the individual participating Funds' strong investment performances by providing scale, increased resilience, knowledge sharing and robust governance and decision making arrangements. Individual participating Funds will continue to retain their separate identities and local accountability. The collaboration will offer an equal say in the oversight of the new entity to each participating Fund. LGPS Central Limited is a company jointly owned by the participating local authorities and will be responsible for providing centralised administration services. Additional information: LGPS Central Limited reserves the right to cancel the procurement process at any stage for any reason; to amend the terms and conditions; and/or to vary the scope of the services required and it shall not be liable to any bidder as a result of this action. All bidders are solely responsible for their costs and expenses incurred in connection with the preparation and submission of their proposal. Any agreement entered into will be governed by English and Welsh law and will be subject to the exclusive jurisdiction of the English Courts. The procurement process will have two stages. The first stage is a selection process to select a shortlist of up to four bidders. For the first stage bidders are required to complete a selection questionnaire and return using the e-tendering portal at www.wolverhamptontenders.com and searching for "PP16162 - LGPS Central Depositary and Asset Services". Bidders selected for the second stage will be required to submit a detailed proposal and negotiate with the authority. A preferred bidder will be selected by May 2017 and further negotiation will be undertaken to agree a final contract and pricing by the end of 2017. Please allow sufficient time to submit your response via the e-tendering portal.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-cb604e2c-c035-409e-ba2a-5b5cc893ba56
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/6e95ca09-4ad9-4e82-a3fe-4395428226b4
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

66000000 - Financial and insurance services

79900000 - Miscellaneous business and business-related services

Notice Value(s)

Tender Value
£20,000,000 £10M-£100M
Lots Value
Not specified
Awards Value
£50,000,000 £10M-£100M
Contracts Value
Not specified

Notice Dates

Publication Date
15 Jun 20178 years ago
Submission Deadline
16 Jan 2017Expired
Future Notice Date
Not specified
Award Date
20 Apr 20178 years ago
Contract Period
18 Jun 2017 - 30 Nov 2028 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
WOLVERHAMPTON CITY COUNCIL
Contact Name
Jessica Prince
Contact Email
jessica.prince@wolverhampton.gov.uk
Contact Phone
01902555065

Buyer Location

Locality
WOLVERHAMPTON
Postcode
WV1 1RL
Post Town
Wolverhampton
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG39 Wolverhampton
Delivery Location
TLG West Midlands (England)
Local Authority
Wolverhampton
Electoral Ward
St Peters
Westminster Constituency
Wolverhampton West

Supplier Information

Number of Suppliers
1
Supplier Name

NORTHERN TRUST

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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