Award

Asset Class Modelling & Allocation Services

LONDON LGPS CIV LIMITED

This public procurement record has 3 releases in its history.

Award

01 Aug 2025 at 11:05

TenderUpdate

08 Apr 2025 at 13:32

Tender

31 Mar 2025 at 10:12

Summary of the contracting process

The public procurement process led by LONDON LGPS CIV LIMITED, headquartered on the 4th Floor, 22 Lavington Street, London, centred around the procurement of "Asset Class Modelling & Allocation Services". This contract focuses on services that will assist in delivering asset class modelling and allocation strategies across public and private market strategies for the London Local Authority LGPS. The procurement falls under the services industry, more specifically under financial market operational services (CPV Code: 66151000). The open procurement method adopted was a competitive flexible procedure, with the award granted to Mercer Limited. The procurement has progressed into the award stage as of 1 August 2025, with the contract period commencing on 1 September 2025 and extending till 31 August 2028, incorporating the possibility of renewal based on performance and continued necessity of services.

This contract presents significant opportunities for businesses with expertise in financial data modelling and risk analysis, particularly those capable of supporting comprehensive market strategies. While the award has gone to a large-scale supplier, smaller enterprises specialising in financial services, analytics, or scenario-based risk modelling could have potentially bid for related opportunities if they had the capability to offer competitive, innovative solutions. The procurement’s focus on both public and private market strategies implies that businesses with a robust track record in providing financial modelling services to institutional clients, especially within local government or similar sectors, would find this kind of tender particularly appealing and aligned with their strategic growth objectives. Successful bidders would need to demonstrate an ability to scale services and incorporate responsible investment practices, suggesting an open field for businesses adept in these competencies to position themselves for future contracts.

Find more tenders on our Open Data Platform.
How relevant is this notice?

D3 Tenders Premium

Win More Public Sector Contracts

AI-powered tender discovery, pipeline management, and market intelligence — everything you need to grow your public sector business.

Notice Title

Asset Class Modelling & Allocation Services

Notice Description

LCIV wishes to procure data sets and modelling, scenario and risk analysis tools and related services which will be used to support the delivery of asset class modelling and allocation services to our Partner Funds, including advising on the appropriate risk profile for Partner Funds to take into account their strategic objectives and risk appetites. The data, tools and services must cover the full range of public and private market strategies used by the London Local Authority LGPS. LCIV is inviting suppliers to bid their respective solutions, including proof-of-concept presentations which will enable bidders to demonstrate (and LCIV to evaluate) detailed functional capabilities of the proposed solutions, and the method of delivery of these solutions to the authority. We anticipate that the appointed supplier will enter into a single agreement with LCIV for the provision of data and services and that such data and services will be allowed to be passed onto shared with our Partner Funds where they have a contractual agreement with LCIV for such services.

Lot Information

Lot 1

Renewal: Subject to satisfactory performance and ability to accommodate any service changed arising during the contract period, they initial contract period may be extended.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-04fa80
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/045170-2025
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
UK6 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Competitive flexible procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66151000 - Financial market operational services

Notice Value(s)

Tender Value
£2,700,000 £1M-£10M
Lots Value
£2,700,000 £1M-£10M
Awards Value
£750,000 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
1 Aug 20256 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
29 Jul 20256 months ago
Contract Period
31 Aug 2025 - 31 Aug 2028 3-4 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Pending
Contracts Status
Not Specified

Contracting Authority (Buyer)

Main Buyer
LONDON LGPS CIV LIMITED
Contact Name
Ian Inglis
Contact Email
procurement@londonciv.org.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
SE1 0NZ
Post Town
South East London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI44 Lewisham and Southwark
Delivery Location
Not specified

Local Authority
Southwark
Electoral Ward
Borough & Bankside
Westminster Constituency
Bermondsey and Old Southwark

Supplier Information

Number of Suppliers
1
Supplier Name

MERCER

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

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-04fa80-2025-08-01T12:05:45+01:00",
    "date": "2025-08-01T12:05:45+01:00",
    "ocid": "ocds-h6vhtk-04fa80",
    "initiationType": "tender",
    "parties": [
        {
            "id": "GB-COH-09136445",
            "name": "LONDON LGPS CIV LIMITED",
            "identifier": {
                "scheme": "GB-COH",
                "id": "09136445"
            },
            "additionalIdentifiers": [
                {
                    "scheme": "GB-PPON",
                    "id": "PQBW-9692-CYCW"
                }
            ],
            "address": {
                "streetAddress": "4th Floor, 22 Lavington Street",
                "locality": "London",
                "postalCode": "SE1 0NZ",
                "country": "GB",
                "countryName": "United Kingdom",
                "region": "UKI44"
            },
            "contactPoint": {
                "name": "Ian Inglis",
                "email": "procurement@londonciv.org.uk"
            },
            "roles": [
                "buyer"
            ],
            "details": {
                "url": "http://www.londonciv.org.uk",
                "classifications": [
                    {
                        "scheme": "UK_CA_TYPE",
                        "id": "publicAuthoritySubCentralGovernment",
                        "description": "Public authority - sub-central government"
                    }
                ]
            }
        },
        {
            "id": "GB-COH-00984275",
            "name": "MERCER LIMITED",
            "identifier": {
                "scheme": "GB-COH",
                "id": "00984275"
            },
            "additionalIdentifiers": [
                {
                    "scheme": "GB-PPON",
                    "id": "PCZX-4442-DMXV"
                }
            ],
            "address": {
                "streetAddress": "1 Tower Place West",
                "locality": "London",
                "postalCode": "EC3R 5BU",
                "country": "GB",
                "countryName": "United Kingdom",
                "region": "UKI31"
            },
            "contactPoint": {
                "email": "publicsectorwealth@mercer.com"
            },
            "roles": [
                "supplier"
            ],
            "details": {
                "url": "https://www.mercer.com/",
                "scale": "large",
                "vcse": false,
                "publicServiceMissionOrganization": false,
                "shelteredWorkshop": false
            }
        }
    ],
    "buyer": {
        "id": "GB-COH-09136445",
        "name": "LONDON LGPS CIV LIMITED"
    },
    "planning": {
        "noEngagementNoticeRationale": "Market engagement was light touch exercise to help shape the requirement, this service requirement has been brought about by regulatory change."
    },
    "tender": {
        "id": "P00125",
        "legalBasis": {
            "id": "2023/54",
            "scheme": "UKPGA",
            "uri": "https://www.legislation.gov.uk/ukpga/2023/54/contents"
        },
        "title": "Asset Class Modelling & Allocation Services",
        "description": "LCIV wishes to procure data sets and modelling, scenario and risk analysis tools and related services which will be used to support the delivery of asset class modelling and allocation services to our Partner Funds, including advising on the appropriate risk profile for Partner Funds to take into account their strategic objectives and risk appetites. The data, tools and services must cover the full range of public and private market strategies used by the London Local Authority LGPS. LCIV is inviting suppliers to bid their respective solutions, including proof-of-concept presentations which will enable bidders to demonstrate (and LCIV to evaluate) detailed functional capabilities of the proposed solutions, and the method of delivery of these solutions to the authority. We anticipate that the appointed supplier will enter into a single agreement with LCIV for the provision of data and services and that such data and services will be allowed to be passed onto shared with our Partner Funds where they have a contractual agreement with LCIV for such services.",
        "status": "complete",
        "items": [
            {
                "id": "1",
                "additionalClassifications": [
                    {
                        "scheme": "CPV",
                        "id": "66151000",
                        "description": "Financial market operational services"
                    }
                ],
                "deliveryAddresses": [
                    {
                        "region": "UK",
                        "country": "GB",
                        "countryName": "United Kingdom"
                    },
                    {
                        "region": "UK",
                        "country": "GB",
                        "countryName": "United Kingdom"
                    }
                ],
                "relatedLot": "1"
            }
        ],
        "value": {
            "amountGross": 2700000,
            "currency": "GBP"
        },
        "procurementMethod": "open",
        "procurementMethodDetails": "Competitive flexible procedure",
        "procedure": {
            "features": "The procurement will be structured into two key stages: a. Stage 1: Selection i. Applicants who have expressed an interest in the procurement will need to pre-qualify and must complete the Procurement Specific Questionnaire (PSQ) and have registered their details on the Central Digital Portal (CDP) within the Find a Tender portal. ii. The PSQ sets out the information required by the authority in order to assess the suitability of applicants to perform the Services as well as their economic and financial standing and technical and professional ability. iii. Tenders will be evaluated based on the bidder's written submission and proof of concept presentations. iv. LCIV reserves the right to limit the number of applicants that are invited to Stage 2 of the procurement to no more than 5 that have received the highest scores under section 3 of the PSQ. b. Stage 2: Invitation to Tender i. The Authority will issue an ITT to applicants that are shortlisted to Stage 2 following the evaluation of the PSQ responses. ii. A draft ITT will be made available to applicants on request via email during Stage 1 of the procurement for information only. Applicants must not respond to the draft ITT during Stage 1 of the procurement."
        },
        "mainProcurementCategory": "services",
        "aboveThreshold": true,
        "submissionMethodDetails": "Enquiries and Submissions may only be made via email to the following address: procurement@londonciv.org.uk",
        "submissionTerms": {
            "electronicSubmissionPolicy": "notAllowed",
            "languages": [
                "en"
            ]
        },
        "expressionOfInterestDeadline": "2025-04-28T17:00:00+01:00",
        "awardPeriod": {
            "endDate": "2025-06-23T23:59:59+01:00"
        },
        "lots": [
            {
                "id": "1",
                "status": "complete",
                "value": {
                    "amountGross": 2700000,
                    "currency": "GBP"
                },
                "awardCriteria": {
                    "criteria": [
                        {
                            "type": "quality",
                            "name": "Ability to derive capital markets risk and return assumptions for the full range of public and private markets asset classes and to model and optimise these inputs",
                            "numbers": [
                                {
                                    "number": 1,
                                    "weight": "order"
                                }
                            ]
                        },
                        {
                            "type": "quality",
                            "name": "Approach used to generate asset class assumptions and techniques used to model and optimise outputs under different scenarios.",
                            "numbers": [
                                {
                                    "number": 2,
                                    "weight": "order"
                                }
                            ]
                        },
                        {
                            "type": "quality",
                            "name": "Experience and track record of delivering asset class modelling and allocation services to LGPS and other institutional investors",
                            "numbers": [
                                {
                                    "number": 3,
                                    "weight": "order"
                                }
                            ]
                        },
                        {
                            "type": "quality",
                            "name": "Method of delivery of services to London CIV and its Partner Funds, and capacity to scale up the service to cover the full range of London CIV clients.",
                            "numbers": [
                                {
                                    "number": 4,
                                    "weight": "order"
                                }
                            ]
                        },
                        {
                            "type": "quality",
                            "name": "Ability to incorporate climate scenarios and best practice in responsible investment into the asset allocation process.",
                            "numbers": [
                                {
                                    "number": 5,
                                    "weight": "order"
                                }
                            ]
                        },
                        {
                            "type": "cost",
                            "name": "Cost of providing the services",
                            "numbers": [
                                {
                                    "number": 6,
                                    "weight": "order"
                                }
                            ]
                        }
                    ]
                },
                "secondStage": {
                    "maximumCandidates": 8
                },
                "selectionCriteria": {
                    "criteria": [
                        {
                            "description": "Previous track record of delivering similar services within a related sector.",
                            "forReduction": true
                        }
                    ]
                },
                "contractPeriod": {
                    "startDate": "2026-01-01T00:00:00Z",
                    "endDate": "2028-12-31T23:59:59Z",
                    "maxExtentDate": "2032-12-31T23:59:59Z"
                },
                "hasRenewal": true,
                "renewal": {
                    "description": "Subject to satisfactory performance and ability to accommodate any service changed arising during the contract period, they initial contract period may be extended."
                }
            }
        ],
        "documents": [
            {
                "id": "conflictOfInterest",
                "documentType": "conflictOfInterest",
                "description": "Not published"
            },
            {
                "id": "A-384",
                "documentType": "biddingDocuments",
                "url": "https://www.find-tender.service.gov.uk/Notice/Attachment/A-384",
                "format": "application/zip"
            },
            {
                "id": "A-385",
                "documentType": "biddingDocuments",
                "url": "https://www.find-tender.service.gov.uk/Notice/Attachment/A-385",
                "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document"
            },
            {
                "id": "A-386",
                "documentType": "biddingDocuments",
                "url": "https://www.find-tender.service.gov.uk/Notice/Attachment/A-386",
                "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document"
            },
            {
                "id": "011951-2025",
                "documentType": "tenderNotice",
                "noticeType": "UK4",
                "description": "Tender notice on Find a Tender",
                "url": "https://www.find-tender.service.gov.uk/Notice/011951-2025",
                "datePublished": "2025-03-31T11:12:08+01:00",
                "format": "text/html"
            },
            {
                "id": "A-539",
                "documentType": "biddingDocuments",
                "description": "Draft contract award form",
                "url": "https://www.find-tender.service.gov.uk/Notice/Attachment/A-539",
                "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document"
            },
            {
                "id": "A-540",
                "documentType": "biddingDocuments",
                "description": "Mid-tier contract terms",
                "url": "https://www.find-tender.service.gov.uk/Notice/Attachment/A-540",
                "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document"
            },
            {
                "id": "013702-2025",
                "documentType": "tenderNotice",
                "noticeType": "UK4",
                "description": "Tender notice on Find a Tender",
                "url": "https://www.find-tender.service.gov.uk/Notice/013702-2025",
                "datePublished": "2025-04-08T14:32:49+01:00",
                "format": "text/html"
            }
        ],
        "amendments": [
            {
                "id": "013702-2025",
                "description": "Draft contract award form and contract terms published in downloads section."
            }
        ]
    },
    "language": "en",
    "bids": {
        "statistics": [
            {
                "id": "1",
                "measure": "bids",
                "value": 6,
                "relatedLot": "1"
            },
            {
                "id": "2",
                "measure": "finalStageBids",
                "value": 6,
                "relatedLot": "1"
            },
            {
                "id": "3",
                "measure": "smeFinalStageBids",
                "value": 0,
                "relatedLot": "1"
            },
            {
                "id": "4",
                "measure": "vcseFinalStageBids",
                "value": 0,
                "relatedLot": "1"
            }
        ]
    },
    "awards": [
        {
            "id": "1",
            "status": "pending",
            "date": "2025-07-30T00:00:00+01:00",
            "value": {
                "amountGross": 750000,
                "currency": "GBP"
            },
            "mainProcurementCategory": "services",
            "aboveThreshold": true,
            "suppliers": [
                {
                    "id": "GB-COH-00984275",
                    "name": "MERCER LIMITED"
                }
            ],
            "items": [
                {
                    "id": "1",
                    "additionalClassifications": [
                        {
                            "scheme": "CPV",
                            "id": "66151000",
                            "description": "Financial market operational services"
                        }
                    ],
                    "deliveryAddresses": [
                        {
                            "region": "UK",
                            "country": "GB",
                            "countryName": "United Kingdom"
                        }
                    ],
                    "relatedLot": "1"
                }
            ],
            "standstillPeriod": {
                "endDate": "2025-08-13T23:59:59+01:00"
            },
            "contractPeriod": {
                "startDate": "2025-09-01T00:00:00+01:00",
                "endDate": "2028-08-31T23:59:59+01:00",
                "maxExtentDate": "2033-08-31T23:59:59+01:00"
            },
            "hasRenewal": true,
            "renewal": {
                "description": "Subject to satisfactory delivery and continuing requirement for services."
            },
            "relatedLots": [
                "1"
            ],
            "documents": [
                {
                    "id": "045170-2025",
                    "documentType": "awardNotice",
                    "noticeType": "UK6",
                    "description": "Contract award notice on Find a Tender",
                    "url": "https://www.find-tender.service.gov.uk/Notice/045170-2025",
                    "datePublished": "2025-08-01T12:05:45+01:00",
                    "format": "text/html"
                }
            ],
            "assessmentSummariesDateSent": "2025-08-01T00:00:00+01:00",
            "milestones": [
                {
                    "id": "1",
                    "type": "futureSignatureDate",
                    "dueDate": "2025-08-14T23:59:59+01:00",
                    "status": "scheduled"
                }
            ]
        }
    ]
}