Tender

Cheshire East Borough Council - Procurement of Fund Management Services_

CIRRUS PURCHASING

This public procurement record has 1 release in its history.

Tender

07 Oct 2019 at 08:11

Tender Notice
Summary of the contracting process

The Cheshire East Borough Council, represented by Cirrus Purchasing, is currently conducting a procurement process for Fund Management Services as part of the £40 million Cheshire and Warrington Development Fund (CWDF), which is backed by £20 million from the European Regional Development Fund (ERDF). The tender, identified as CEC0002, is at the Tender stage, having been issued on 4th October 2019. Interested parties must submit their bids by the deadline of 12:00 noon on 5th November 2019, with key milestones including interviews during the week of 11th November 2019 and a contract award anticipated in December 2019. The project aims to drive economic growth within the North West region of the United Kingdom.

This tender presents significant opportunities for businesses, particularly those in the financial consultancy services sector, to engage in managing a substantial investment fund. Companies capable of delivering fund management services, including marketing, due diligence, and compliance with state aid regulations, will find this tender a perfect fit for their expertise. The competition is well-suited for both small and medium-sized enterprises (SMEs) and larger firms with experience in fund management and investment processes, particularly those with a track record of securing match funding and managing complex financial frameworks.

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Notice Information

Notice Title

Cheshire East Borough Council - Procurement of Fund Management Services_

Notice Description

As part of a package of programmes to stimulate and drive growth, the LEP in conjunction with Cheshire East Borough Council as the accountable body, has secured PS20m of European Regional Development Funds (ERDF) to establish an investment fund called the Cheshire and Warrington Development Fund (CWDF). The proposed CWDF will be complementary to the Evergreen 1 fund established in 2011 and the Greater Manchester Evergreen 2 fund. The Evergreen 1(EG1) fund was very successful. Cheshire and Warrington received PS37m (some of this is still in final assessment) from the fund which is now fully committed. This tender process is for the procurement of fund management services to deliver the CWDF. As part of the contract, the successful service provider will be required to deliver the following services: - Manage and market the fund and the entire investment cycle - Launch the fund - Market the fund - Manage all enquires - Generate applications to the fund - Secure a minimum of PS20m of match funding which can be at a fund or investee level - Identify, monitor and report co-investment in accordance with Article 1 of the Commission Implementing Regulation (821/2014). - Work with other funds, funders, and investees, most notably Evergreen 1 to assess the benefit of adding this funding to wider funding packages for projects - Assess and develop the applications - Invest the funds - Carry out financial and commercial due diligence - Ensure all investments made are state aid compliant - Issue heads of terms - Make investment recommendations to the CWDF board - Issue contracts for investments - Monitor the investments and ensure repayments are made on time, and if not work with the applicant to take remedial action - Ensure outputs are achieved and recorded in compliance with ERDF guidelines. TENDER TIMETABLE Please see below for the estimated timetable for this tender, please note this is for information only and may be subject to change. Invitation to tender issued: Friday 4th October 2019 Deadline for queries: 5:00pm, Friday 25th October 2019 Tender return deadline: 12:00 noon, Tuesday 5th November 2019 Interviews: W/C 11th November 2019 Notification of intent to award: November 2019 Contract award: December 2019 Additional information: https://in-tendhost.co.uk/cirruspurchasing/aspx/ Please apply via our In-tend portal https://www.in-tendhost.co.uk/cirruspurchasing/aspx/Home. Please see the tender documents available from this link for additional information on the services required and the tender evaluation criteria. Funding Type (WEFO or EU) : EU Funding Description This tender process is for the procurement of fund management services for a PS40 million investment fund. PS20 million of this fund is made of funds secured from the European Regional Development Fund (ERDF), with the remaining PS20 million anticipated to be made up through match funding Is a Recurrent Procurement Type? : No

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-e5a1c258-a82f-48e5-a4e6-b9779fef8599
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/bee264a4-f6c2-4707-a68f-7661a1db2601
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66171000 - Financial consultancy services

Notice Value(s)

Tender Value
£1,000,000 £1M-£10M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
7 Oct 20196 years ago
Submission Deadline
5 Nov 2019Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
10 Dec 2019 - 9 Dec 2029 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
CIRRUS PURCHASING
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
WINSFORD
Postcode
CW7 1AH
Post Town
Crewe
Country
England
Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD6 Cheshire
Small Region (ITL 3)
TLD63 Cheshire West and Chester
Delivery Location
TLD North West (England)
Local Authority
Cheshire West and Chester
Electoral Ward
Winsford Dene
Westminster Constituency
Mid Cheshire

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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