Award

Urban Development Fund Investement Management Services

LANCASHIRE COUNTY COUNCIL

This public procurement record has 4 releases in its history.

Award

16 Dec 2020 at 15:42

Award Notice
TenderAmendment

24 Sep 2020 at 10:27

Tender Notice
TenderAmendment

03 Sep 2020 at 13:22

Tender Notice
Tender

30 Jul 2020 at 08:55

Tender Notice
Summary of the contracting process

The Lancashire County Council is seeking to procure Investment Management Services for the Urban Development Fund (LUDF) through an open tender process. This contract, which has an estimated value of £1,650,000, is aimed at bridging finance gaps for private sector developers in the North West, promoting economic growth by enabling the construction of fit-for-purpose industrial and commercial properties for SMEs in key growth sectors. The tender period closes on 23rd October 2020, with the contract expected to commence on 1st December 2020 and run until 31st October 2025.

This tender presents substantial opportunities for businesses specialising in banking and investment services, particularly those that cater to SMEs or have experience working within EU regulatory frameworks, including State Aid compliance. Companies looking to expand their services in fund management and economic development will find this contract particularly relevant. The emphasis on achieving Key Performance Indicators (KPIs) also underscores the potential for performance-driven contracts that could enhance business profiles and market reach for successful bidders.

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Notice Information

Notice Title

Urban Development Fund Investement Management Services

Notice Description

The Lancashire Urban Development Fund (LUDF) will provide capital to fill finance gaps for private sector developers that aim to build workspace in Lancashire, operating on the basis of investing in developments to bring forward activity that the market would not otherwise invest in. It is intended that the LUDF will promote economic growth in Lancashire by providing a mechanism to bring forward fit-for-purpose industrial and commercial premises for SME's in Lancashire's priority growth sectors and help to unlock key strategic employment sites to support growth. This tender is for the establishment of a Contract for the provision of Investement Fund Management Services (the Services as set out in the Specification and tender documents) for the LUDF. The appointed Service Provider will be responsible for managing all the affairs of the fund including the making of investment decisions at all stages through to term, disposal or exit/realisation. The Contract will require the Service Provider to agree to the achievement of Key Performance Indicators (KPIs) related to the investment of the funds. As the LUDF is part-funded by ERDF grant funding all investments and Services will be required to be undertaken in accordance with EU rules and regulations, including in a State Aid compliant manner. All of the requirements will be detailed within the Invitation to tender, the Specification and the Contract documentation.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-dc75b049-53c6-47e7-b517-556e93eaea27
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/66dc7145-dbfc-442e-bb92-a46c8e2a27ca
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
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
£1,650,000 £1M-£10M
Lots Value
Not specified
Awards Value
£1,649,500 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
16 Dec 20205 years ago
Submission Deadline
23 Oct 2020Expired
Future Notice Date
Not specified
Award Date
14 Dec 20205 years ago
Contract Period
1 Jan 2021 - 30 Jun 2025 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
LANCASHIRE 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
PRESTON
Postcode
PR1 8RL
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

IGLOO INVESTMENT MANAGEMENT

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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