Appointment of Pension Fund Manager - Direct Corporate Lending

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    "id": "ocds-h6vhtk-0289f9-2021-01-13T15:09:21Z",
    "date": "2021-01-13T15:09:21Z",
    "ocid": "ocds-h6vhtk-0289f9",
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        "id": "ocds-h6vhtk-0289f9",
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            "id": "32014L0024",
            "scheme": "CELEX"
        },
        "title": "Appointment of Pension Fund Manager - Direct Corporate Lending",
        "status": "active",
        "classification": {
            "scheme": "CPV",
            "id": "66141000",
            "description": "Pension fund management services"
        },
        "mainProcurementCategory": "services",
        "description": "Essex Pension Fund are seeking to appoint an Investment Manager for a Direct Corporate Lending mandate of approximately PS200m-PS250m. The Council reserve the right to alter the value and length of the contract.",
        "lots": [
            {
                "id": "1",
                "description": "Essex Pension Fund are seeking to appoint an Investment Manager for a Direct Corporate Lending mandate of approximately PS200m-PS250m. - Tenderers must be appropriately regulated to manage a Direct Corporate Lending mandate for an LGPS client; - Tenderers must be actively raising capital for a close ended commingled Fund in Q2 and Q3 2021; - The Fund must seek to lend 90% or more of assets to 1st lien senior secured corporate debt, to mid - large cap companies; - Tenderers must be the sole or lead lender in the majority of loans; - The majority of loans must be structured with financial maintenance covenants as a minimum; - The Fund should be either Global or European focused; - The Fund should target a net return in the region of cash plus 5% - 6% p.a.; - The Fund must have a minimum target size of PS2 billion; - Tenderers must be on at least their 3rd Fund raise for this specific strategy; - Tenderers must have at least a 5 year track record in Senior Secured Direct Corporate Lending - Tenderers must be able to comply with the appropriate LGPS regulations; - The Council reserves the right to alter the value of the funds awarded and this may change over time; - The Council reserves the right to alter the length of the contract.",
                "contractPeriod": {
                    "durationInDays": 1800
                },
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                "status": "active"
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                "deliveryAddresses": [
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                        "region": "UKH3"
                    }
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                "deliveryLocation": {
                    "description": "Essex"
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        "submissionMethod": [
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        "submissionMethodDetails": "https://dataresponses@hymans.co.uk",
        "selectionCriteria": {
            "criteria": [
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                    "type": "suitability",
                    "description": "Providers must be registered in terms of the UK Financial Services and Markets Act 2000, or equivalent law of the European Economic Area (EEA) member state to manage the assets of occupational pension funds. Proof of registration must be provided.",
                    "appliesTo": [
                        "supplier"
                    ]
                },
                {
                    "type": "economic",
                    "description": "Providers should complete a Single Procurement Document (SPD) and a Request for Proposal (RfP). Please contact Hymans Robertson LLP (dataresponses@hymans.co.uk) for copies of both.",
                    "minimum": "Providers must be registered in terms of the UK Financial Services and Markets Act 2000, or equivalent law of European Economic Area (EEA) member state to manage the assets of occupational pension schemes. Providers must be able to comply with appropriate LGPS regulations.",
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            "endDate": "2021-02-12T12:00:00Z"
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        "awardPeriod": {
            "startDate": "2021-02-12T17:00:00Z"
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            "date": "2021-02-12T17:00:00Z"
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        "reviewDetails": "As per the Public Contracts Regulations 2016."
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    "parties": [
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            "id": "GB-FTS-1529",
            "name": "Essex Pension Fund",
            "identifier": {
                "legalName": "Essex Pension Fund"
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            "address": {
                "streetAddress": "PO Box 11, County Hall",
                "locality": "Chelmsford",
                "region": "UKH3",
                "postalCode": "CM1 1LX",
                "countryName": "United Kingdom"
            },
            "contactPoint": {
                "name": "Penny Cochrane",
                "telephone": "+44 2070826381",
                "email": "penny.cochrane@hymans.co.uk",
                "url": "https://dataresponses@hymans.co.uk"
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