Tender

LGPS Central UK Direct Property and Investment Manager

LGPS CENTRAL LTD

This public procurement record has 1 release in its history.

Tender

14 Jun 2021 at 11:12

Tender Notice
Summary of the contracting process

The procurement process is led by LGPS Central Ltd, an investment manager based in Wolverhampton, United Kingdom. They are seeking a Property and Investment Manager for the "LGPS Central UK Direct Property and Investment Manager" tender, classified under financial and insurance services. This selective procurement is currently in the tender stage, with a closing date for submissions set for 19 July 2021. The contract period is anticipated to commence on 1 December 2021, and will extend for an initial term of seven years, with the possibility of a three-year extension.

Businesses that can effectively manage property assets and provide investment advisory services will find significant opportunities in this procurement. Firms specialising in property management, real estate consultancy, and financial services may be particularly well-suited to compete, especially those with a track record in handling large investment portfolios. The potential growth of the fund, expected to increase from £150 million to approximately £500 million over seven years, further enhances the attractiveness of this opportunity for eager and capable bidders.

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Notice Information

Notice Title

LGPS Central UK Direct Property and Investment Manager

Notice Description

LGPS Central Limited (LGPS Central) is an Alternative Investment Fund Manager (AIFM) and an investment advisor, authorised and regulated by the Financial Conduct Authority (FCA). It was established to manage investment assets on behalf of eight Local Government Pension Scheme (LGPS) funds across the Midlands (Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, West Midlands, and Worcestershire) (the Partner Funds). It is jointly owned on an equal-shares basis by the eight Partner Funds. LGPS Central currently has approximately PS45bn of assets under management, including PS17bn in the LGPS Central Limited Authorised Contractual Scheme (the LGPSC ACS). It also provides consultancy and investment advisory services, to the Partner Funds. Three of the LGPS Central's Partner Funds have expressed interest in investing new monies in a pooled direct property fund and it has been agreed that such a fund will be set up as a sub-fund under a new authorised contractual scheme structure, to be known as the LGPS Central Property ACS ( the Property ACS). The sub-fund will be called the LGPS Central UK Direct Property Fund (the Fund). It is anticipated that the Fund will be launched by the end of 2021 with approximately PS150million of investment of new money from the three Partner Funds. It is expected that over time this amount will grow (expected to reach approximately PS500m in 7 years) and include cash investment from other Partner Funds. LGPS Central will be the manager of the Property ACS and wishes to appoint a property and investment manager (the P and I Manager) to: - manage, on an advisory basis, all of the assets of the Fund in accordance with the investment objective and investment policy of the Fund; and - provide day-to-day property related services, such as rent reviews, lease renewals and dilapidations. In addition, LGPS Central, in its capacity as an investment advisor may, at any time, also wish to appoint the P and I Manager as a property and investment manager in respect of Partner Fund's existing UK direct property portfolio (a Legacy Portfolio) with a view to winding down the Legacy Portfolio and reinvesting the proceeds into the Fund. Such an appointment would be a delegation from LGPS Central of the investment advisory services it has been appointed to provide to the Partner Fund in respect of a Legacy Portfolio. Therefore, the P and I Manager will only be appointed in respect of a Legacy Portfolio where LGPSC is appointed by the Partner Fund. No guarantees are given by LGPC Central to tenderers in respect of Legacy Portfolios. The appointment of the P and I Manager in respect of the above will be by way of a Master Property and Investment Management Agreement (the P and IMA). The P and IMA will be for an initial term of seven years with the option for LGPS Central to extend for a further three years. Further information can be found in the Information... Additional information: For any supplier interested in this opportunity, further information can be found in the Procurement Information Document that forms part of the procurement pack. This can be found at https://in-tendhost.co.uk/lgpscentral/aspx/Home Is a Recurrent Procurement Type? : No

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-dc99c672-6dbb-4e3a-b714-216f52014f31
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/dd096410-94a7-4192-8ba7-973a7c220e9e
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Competitive dialogue (above threshold)
Tender Suitability
Not specified
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
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
14 Jun 20214 years ago
Submission Deadline
19 Jul 2021Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Dec 2021 - 1 Dec 2028 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
LGPS CENTRAL LTD
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
WOLVERHAMPTON
Postcode
WV1 3NB
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

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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