Tender

Ask AI about this notice

Summarise, research or assess it with AI

View Markdown

Share this notice

Send this contract to a colleague

Appointment of Pension Fund Manager - Private Corporate Debt

Glasgow City Council as the administering authority for the Strathclyde Pension Fund

This public procurement record has 1 release in its history.

Tender

17 Dec 2018 at 00:00

OJEU - F2 - Contract Notice
Summary of the contracting process

Glasgow City Council, acting as the administering authority for the Strathclyde Pension Fund, is currently seeking to appoint a Pension Fund Manager for a private corporate debt mandate under an open procurement method. This tender is in the active stage, with submissions due by 12:00 PM on 16 January 2019. The contract will be centred around providing services within the economic affairs industry, located in Glasgow, UK. Interested parties can submit their proposals electronically via the stated link. The planned duration for this contract is extensive, with a potential length of up to 1800 days, dependent upon specific terms outlined in the Investment Management Agreement.

This procurement process represents a significant opportunity for financial management firms specialising in private lending, corporate debt strategies, and investment management. Companies well-versed in LGPS regulations or those providing innovative debt solutions would be particularly competitive. Given the substantial mandate size ranging from £300 million to £600 million, service providers capable of delivering robust risk management and compliance frameworks stand to benefit greatly from this contract. The expected return of LIBOR plus 4-6% net of fees presents an attractive prospect for firms looking to expand their portfolio in the public pension fund sector.

How relevant is this notice?

Notice Information

Notice Title

Appointment of Pension Fund Manager - Private Corporate Debt

Notice Description

Glasgow City Council, as administering authority to the Strathclyde Pension Fund, is seeking to appoint an investment manager, or managers, to manage a private corporate debt mandate. Managers and proposed mandates will need to be able to comply with LGPS regulations. The manager should be able to offer an implementation solution either through the construction of a segregated evergreen portfolio or through the management and allocation to a range of underlying debt managers.

Lot Information

Lot 1

Glasgow City Council, as administering authority to the Strathclyde Pension Fund, is seeking to appoint an investment manager, or managers, to manage a private corporate debt mandate. Managers and proposed mandates will need to be able to comply with LGPS regulations. The manager should be able to offer an implementation solution either through the construction of a segregated evergreen portfolio or through the management and allocation to a range of underlying debt managers. The mandate will be focussed predominantly on senior secured direct corporate lending, either first or second lien, to corporate borrowers. The loans should be viewed as equivalent to sub-investment grade credit risk. The strategy may also include allocations to unitranche, mezzanine (junior debt) and other forms of debt and potentially a small allocation to equity. The expected return on this mandate is in the region of LIBOR plus 4-6% p.a. net of fees and costs. The proposed mandate size is between 300m GBP and 600m GBP, although Glasgow City Council reserve the right to alter the value and coverage of the mandate both initially and over the period of the mandate.

Renewal: The contract will commence on the Commencement Date as detailed in the Investment Management Agreement ("IMA") and shall continue in full force and effect until terminated in accordance with the terms of the IMA. Please refer to Clauses 25 and 26 of the IMA for full details.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000559211
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=DEC340501
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
OJEU - F2 - Contract 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

66141000 - Pension fund management services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
17 Dec 20187 years ago
Submission Deadline
16 Jan 2019Expired
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
Glasgow City Council as the administering authority for the Strathclyde Pension Fund
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
GLASGOW
Postcode
G2 9EW
Postcode Area
Glasgow
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM3 West Central Scotland
Small Region (ITL 3)
TLM32 Glasgow City
Delivery Location
TLM82 Glasgow City
Local Authority
Glasgow City
Electoral Ward
Anderston/City/Yorkhill
Westminster Constituency
Glasgow North East

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

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.

Loading OCDS record...