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FUND MANAGEMENT SERVICES IN RELATION TO THE WEST MIDLANDS EQUITY CO-INVESTMENT FUND

West Midlands Combined Authority

This public procurement record has 2 releases in its history.

TenderUpdate

28 Jun 2022 at 17:27

Tender Notice
Tender

24 Jun 2022 at 11:49

Tender Notice
Summary of the contracting process

The West Midlands Combined Authority (WMCA) is seeking suppliers for Fund Management Services in relation to the West Midlands Equity Co-Investment Fund. This procurement falls within the financial and insurance services sector and is currently in the Tender stage. The procurement is aimed at establishing a £25 million co-investment fund by 3rd October 2022, to support high-growth SMEs in the West Midlands region. Bids for this contract must be submitted electronically by 25th July 2022, with an opening scheduled for the same day. Interested parties are encouraged to review the full terms and criteria for submission.

This tender presents significant opportunities for businesses involved in financial services, particularly those with expertise in fund management and equity investment. Companies that are FCA registered and possess a strong track record in managing co-investment funds would be particularly well-suited to compete. The co-investment strategy, which can leverage both public and private sector investments, enhances the potential for substantial returns while aiming to support job creation and sustainable economic growth in the region.

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Notice Information

Notice Title

FUND MANAGEMENT SERVICES IN RELATION TO THE WEST MIDLANDS EQUITY CO-INVESTMENT FUND

Notice Description

The West Midlands Combined Authority ("WMCA") and a second investor to the Fund ("Investor 2") will be establishing a co-investment fund ("the West Midlands Equity Co-Investment Fund" or "the Fund"), making equity investments into the region's high growth potential SMEs. Both parties aim to have the fund established and ready to launch by no later than 3rd October 2022.

Lot Information

Lot 1

The West Midlands Equity Co-Investment Fund ("the Fund" or "WMCO") is a PS25m co-investment fund to facilitate the provision of equity finance to up to 45, revenue generating businesses with potential for high growth across the Region. Targeting a minimum 2x return, the Fund will take a sector agnostic approach to its investment, aligned to WMCA regional strategy. WMCA strategic areas include: * New manufacturing economy - advanced manufacturing; * Creative and digital (including technology); * Low carbon and environmental technologies; * Medical and life sciences; * Logistics and transport technologies; and * Construction (building technologies) Operating over a ten-year life cycle, the Fund will operate as a co-investment fund, investing alongside the public and private sectors on a minimum PS1:PS1 basis.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-034a38
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/017674-2022
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
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

66100000 - Banking and investment services

66120000 - Investment banking services and related services

Notice Value(s)

Tender Value
£5,000,000 £1M-£10M
Lots Value
£5,000,000 £1M-£10M
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
28 Jun 20224 years ago
Submission Deadline
21 Jul 2022Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Active
Lots Status
Active
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
West Midlands Combined Authority
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BIRMINGHAM
Postcode
B19 3SD
Postcode Area
Birmingham
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG31 Birmingham
Delivery Location
TLG West Midlands (England)
Local Authority
Birmingham
Electoral Ward
Newtown
Westminster Constituency
Birmingham Ladywood

Further Information

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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