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

{
    "tag": [
        "compiled"
    ],
    "id": "ocds-h6vhtk-034a38-2022-06-28T17:27:55+01:00",
    "date": "2022-06-28T17:27:55+01:00",
    "ocid": "ocds-h6vhtk-034a38",
    "initiationType": "tender",
    "tender": {
        "id": "2022/S 000-017299",
        "legalBasis": {
            "id": "32014L0024",
            "scheme": "CELEX"
        },
        "title": "FUND MANAGEMENT SERVICES IN RELATION TO THE WEST MIDLANDS EQUITY CO-INVESTMENT FUND",
        "status": "active",
        "classification": {
            "scheme": "CPV",
            "id": "66000000",
            "description": "Financial and insurance services"
        },
        "mainProcurementCategory": "services",
        "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.",
        "value": {
            "amount": 5000000,
            "currency": "GBP"
        },
        "lots": [
            {
                "id": "1",
                "description": "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.",
                "value": {
                    "amount": 5000000,
                    "currency": "GBP"
                },
                "contractPeriod": {
                    "durationInDays": 3600
                },
                "hasRenewal": false,
                "submissionTerms": {
                    "variantPolicy": "notAllowed"
                },
                "hasOptions": false,
                "status": "active"
            }
        ],
        "items": [
            {
                "id": "1",
                "additionalClassifications": [
                    {
                        "scheme": "CPV",
                        "id": "66100000",
                        "description": "Banking and investment services"
                    },
                    {
                        "scheme": "CPV",
                        "id": "66120000",
                        "description": "Investment banking services and related services"
                    }
                ],
                "deliveryAddresses": [
                    {
                        "region": "UKG"
                    }
                ],
                "relatedLot": "1"
            }
        ],
        "submissionMethod": [
            "electronicSubmission",
            "written"
        ],
        "submissionMethodDetails": "https://wmca.bravosolution.co.uk/web/login.html",
        "communication": {
            "atypicalToolUrl": "https://wmca.bravosolution.co.uk/web/login.html"
        },
        "selectionCriteria": {
            "criteria": [
                {
                    "type": "suitability",
                    "description": "Requirement to be registered with the FCA (Financial Conduct Authority) at point of Contract Award",
                    "appliesTo": [
                        "supplier"
                    ]
                },
                {
                    "type": "technical",
                    "description": "Must be registered with the FCA (Financial Conduct Authority)"
                }
            ]
        },
        "documents": [
            {
                "id": "economic",
                "documentType": "economicSelectionCriteria"
            },
            {
                "id": "technical",
                "documentType": "technicalSelectionCriteria"
            }
        ],
        "contractTerms": {
            "performanceTerms": "The Limited Partners will require the Fund Manager to follow responsible investment principles. The Limited Partners will work with the Fund Manager to agree and produce a Responsible Investment Policy. The Fund Manager will be responsible for ensuring the Fund delivers the following socio-economic outputs: * Number of growth SMEs supported (ERDF definition C3): 45 * New to Company Product supported (ERDF definition C28): 23 * Direct jobs created (ERDF definition C8): 563 * Indirect jobs safeguarded:225 Safeguarded jobs equate to all jobs in place at the point of Fund investment * Private sector co-investment leveraged (ERDF definition C7): PS33.75m (PS1.50 for every PS1 deployed by WMCO) At a minimum, the Fund Manager will be asked to report on Fund performance against each of the socio-economic outputs within the Advisory Committee report. The Fund will also have GVA targets of: * GVA Gross: PS49m * GVA per PS1 of public sector funds invested: PS1.96",
            "electronicInvoicingPolicy": "allowed"
        },
        "procurementMethod": "open",
        "procurementMethodDetails": "Open procedure",
        "coveredBy": [
            "GPA"
        ],
        "tenderPeriod": {
            "endDate": "2022-07-21T11:00:00+01:00"
        },
        "submissionTerms": {
            "languages": [
                "en"
            ],
            "bidValidityPeriod": {
                "durationInDays": 90
            }
        },
        "awardPeriod": {
            "startDate": "2022-07-21T12:00:00+01:00"
        },
        "bidOpening": {
            "date": "2022-07-21T12:00:00+01:00",
            "address": {
                "streetAddress": "https://wmca.bravosolution.co.uk/web/login.html"
            },
            "description": "Member of WMCA procurement team"
        },
        "hasRecurrence": false,
        "reviewDetails": "WMCA will incorporate a standstill period at the point at which information on the intention to award the contract is communicated to all bidders. The notification will provide full information on the award in accordance with the PCR regulations. The standstill period, which will be a minimum of 10 calendar days, provides time for the unsuccessful bidders to challenge the award decision before the Contract is entered into. The Public Contract Regulations 2015 (SI 2015 No 102) provide for aggrieved parties who have been harmed or are at risk of being harmed by a breach of the rules to take action on the High Court (England Wales & Northern Ireland).",
        "amendments": [
            {
                "id": "1",
                "unstructuredChanges": [
                    {
                        "oldValue": {
                            "date": "2022-07-21T12:00:00+01:00"
                        },
                        "newValue": {
                            "date": "2022-07-25T12:00:00+01:00"
                        },
                        "where": {
                            "section": "IV.2.7",
                            "label": "Conditions for opening of tenders"
                        }
                    }
                ]
            }
        ]
    },
    "parties": [
        {
            "id": "GB-FTS-2655",
            "name": "West Midlands Combined Authority",
            "identifier": {
                "legalName": "West Midlands Combined Authority"
            },
            "address": {
                "streetAddress": "16 Summer Lane",
                "locality": "Birmingham",
                "region": "UKG",
                "postalCode": "B19 3SD",
                "countryName": "United Kingdom"
            },
            "contactPoint": {
                "name": "Josie Medforth",
                "telephone": "+44 3453036760",
                "email": "Josie.Medforth@place-group.com",
                "url": "https://wmca.bravosolution.co.uk/web/login.html"
            },
            "roles": [
                "buyer"
            ],
            "details": {
                "url": "https://www.wmca.org.uk/",
                "classifications": [
                    {
                        "scheme": "TED_CA_TYPE",
                        "id": "REGIONAL_AUTHORITY",
                        "description": "Regional or local authority"
                    },
                    {
                        "scheme": "COFOG",
                        "id": "01",
                        "description": "General public services"
                    }
                ],
                "buyerProfile": "https://wmca.bravosolution.co.uk/"
            }
        },
        {
            "id": "GB-FTS-278",
            "name": "The High Court of Justice",
            "identifier": {
                "legalName": "The High Court of Justice"
            },
            "address": {
                "streetAddress": "Strand",
                "locality": "London",
                "postalCode": "WC2A 2LL",
                "countryName": "United Kingdom"
            },
            "roles": [
                "reviewBody"
            ]
        },
        {
            "id": "GB-FTS-279",
            "name": "CEDR",
            "identifier": {
                "legalName": "CEDR"
            },
            "address": {
                "locality": "London",
                "countryName": "United Kingdom"
            },
            "roles": [
                "mediationBody",
                "reviewContactPoint"
            ]
        }
    ],
    "buyer": {
        "id": "GB-FTS-2655",
        "name": "West Midlands Combined Authority"
    },
    "language": "en"
}