Notice Information
Notice Title
GGIF Fund Management
Notice Description
This MCA is seeking to procure an appropriately qualified and experienced AIFM to go to market and raise matching capital from significant external public and importantly, private investors, aiming at a 10x multiple of the Combined Authority's impact.
Lot Information
Lot 1
The West of England Combined Authority (MCA) is seeking to launch a PS100m Green Growth West Impact Fund (GGWIF) seed capitalized by the MCA with PS10m as a cornerstone investor. GGWIF has been designed to assist with the tackling of ambitious goals set out in its 2023 Climate and Ecological Strategy and Action Plan, by generating significant environmental, social and economic impacts while preserving and amplifying the Combined Authority's capital.
This MCA is seeking to procure an appropriately qualified and experienced AIFM to go to market and raise matching capital from significant external public and importantly, private investors, aiming at a 10x multiple of the Combined Authority's impact.
The MCA requires the appointed AIFM to be able to demonstrate the following attributes as part of the procurement process:
A competitive / market standard fees and fund structure
A Track record (above the median/ top quartile for benchmark funds) of previous funds
A strong experienced proven management team
The ability to demonstrate evidence of a sound investment strategy with projected return (financial and impact) exceeding what would normally be expected in the sector context
A visible pipeline and clear origination strategy
Evidence of high quality performing underlying assets for existing funds
Evidence of access to a strong investor base and significant fund-raising experience
Evidence of strong governance and management systems in place
ESG / Impact reporting experience at a regulated fund reporting level
A commitment to work with the MCA Grant funded BBRC Investment Readiness Advisory Service (IRAS)
Interested parties should register at https://weca-atamis.my.site.com/s/Welcome to view documents and submit bids.
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-h6vhtk-04c1a5
- Publication Source
- Find A Tender Service
- Latest Notice
- https://www.find-tender.service.gov.uk/Notice/038825-2024
- 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
Notice Value(s)
- Tender Value
- £600,000 £500K-£1M
- Lots Value
- £600,000 £500K-£1M
- Awards Value
- Not specified
- Contracts Value
- Not specified
Notice Dates
- Publication Date
- 2 Dec 20241 years ago
- Submission Deadline
- 6 Jan 2025Expired
- Future Notice Date
- Not specified
- Award Date
- Not specified
- Contract Period
- 3 Mar 2025 - 3 Mar 2038 Over 5 years
- 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
- THE WEST OF ENGLAND COMBINED AUTHORITY
- Contact Name
- Paul Smith
- Contact Email
- paul.smith@westofengland-ca.gov.uk
- Contact Phone
- Not specified
Buyer Location
- Locality
- BRISTOL
- Postcode
- BS1 6AL
- Post Town
- Bristol
- Country
- England
-
- Major Region (ITL 1)
- TLK South West (England)
- Basic Region (ITL 2)
- TLK5 West of England
- Small Region (ITL 3)
- TLK51 Bristol, City of
- Delivery Location
- Not specified
-
- Local Authority
- Bristol, City of
- Electoral Ward
- Central
- Westminster Constituency
- Bristol Central
Further Information
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
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.
{
"tag": [
"compiled"
],
"id": "ocds-h6vhtk-04c1a5-2024-12-02T17:33:36Z",
"date": "2024-12-02T17:33:36Z",
"ocid": "ocds-h6vhtk-04c1a5",
"initiationType": "tender",
"tender": {
"id": "C0331",
"legalBasis": {
"id": "32014L0024",
"scheme": "CELEX"
},
"title": "GGIF Fund Management",
"status": "active",
"classification": {
"scheme": "CPV",
"id": "66000000",
"description": "Financial and insurance services"
},
"mainProcurementCategory": "services",
"description": "This MCA is seeking to procure an appropriately qualified and experienced AIFM to go to market and raise matching capital from significant external public and importantly, private investors, aiming at a 10x multiple of the Combined Authority's impact.",
"value": {
"amount": 600000,
"currency": "GBP"
},
"lots": [
{
"id": "1",
"description": "The West of England Combined Authority (MCA) is seeking to launch a PS100m Green Growth West Impact Fund (GGWIF) seed capitalized by the MCA with PS10m as a cornerstone investor. GGWIF has been designed to assist with the tackling of ambitious goals set out in its 2023 Climate and Ecological Strategy and Action Plan, by generating significant environmental, social and economic impacts while preserving and amplifying the Combined Authority's capital.<br/><br/>This MCA is seeking to procure an appropriately qualified and experienced AIFM to go to market and raise matching capital from significant external public and importantly, private investors, aiming at a 10x multiple of the Combined Authority's impact.<br/><br/>The MCA requires the appointed AIFM to be able to demonstrate the following attributes as part of the procurement process:<br/><br/>A competitive / market standard fees and fund structure<br/><br/>A Track record (above the median/ top quartile for benchmark funds) of previous funds<br/><br/>A strong experienced proven management team<br/><br/>The ability to demonstrate evidence of a sound investment strategy with projected return (financial and impact) exceeding what would normally be expected in the sector context<br/><br/>A visible pipeline and clear origination strategy<br/><br/>Evidence of high quality performing underlying assets for existing funds<br/><br/>Evidence of access to a strong investor base and significant fund-raising experience<br/><br/>Evidence of strong governance and management systems in place<br/><br/>ESG / Impact reporting experience at a regulated fund reporting level<br/><br/>A commitment to work with the MCA Grant funded BBRC Investment Readiness Advisory Service (IRAS)<br/><br/>Interested parties should register at https://weca-atamis.my.site.com/s/Welcome to view documents and submit bids.",
"value": {
"amount": 600000,
"currency": "GBP"
},
"contractPeriod": {
"startDate": "2025-03-03T00:00:00Z",
"endDate": "2038-03-03T23:59:59Z"
},
"hasRenewal": false,
"submissionTerms": {
"variantPolicy": "notAllowed"
},
"hasOptions": false,
"status": "active"
}
],
"items": [
{
"id": "1",
"deliveryAddresses": [
{
"region": "UK"
}
],
"relatedLot": "1"
}
],
"submissionMethod": [
"electronicSubmission",
"written"
],
"submissionMethodDetails": "https://weca-atamis.my.site.com/s/Welcome",
"procurementMethod": "open",
"procurementMethodDetails": "Open procedure",
"tenderPeriod": {
"endDate": "2025-01-06T12:00:00Z"
},
"submissionTerms": {
"languages": [
"en"
],
"bidValidityPeriod": {
"durationInDays": 90
}
},
"awardPeriod": {
"startDate": "2025-01-06T12:00:00Z"
},
"bidOpening": {
"date": "2025-01-06T12:00:00Z"
},
"hasRecurrence": false
},
"parties": [
{
"id": "GB-FTS-120039",
"name": "The West of England Combined Authority",
"identifier": {
"legalName": "The West of England Combined Authority"
},
"address": {
"streetAddress": "70 Redcliff Street",
"locality": "Bristol",
"region": "UK",
"postalCode": "BS1 6AL",
"countryName": "United Kingdom"
},
"contactPoint": {
"name": "Paul Smith",
"email": "paul.smith@westofengland-ca.gov.uk",
"url": "https://weca-atamis.my.site.com/s/Welcome"
},
"roles": [
"buyer",
"reviewBody",
"mediationBody",
"reviewContactPoint"
],
"details": {
"url": "https://www.westofengland-ca.gov.uk/about-us/contact-us/",
"buyerProfile": "https://www.westofengland-ca.gov.uk/about-us/contact-us/",
"classifications": [
{
"scheme": "TED_CA_TYPE",
"id": "REGIONAL_AUTHORITY",
"description": "Regional or local authority"
},
{
"scheme": "COFOG",
"id": "01",
"description": "General public services"
}
]
}
}
],
"buyer": {
"id": "GB-FTS-120039",
"name": "The West of England Combined Authority"
},
"language": "en"
}