{ "tag": [ "compiled" ], "id": "ocds-h6vhtk-0487c9-2025-10-06T13:57:13+01:00", "date": "2025-10-06T13:57:13+01:00", "ocid": "ocds-h6vhtk-0487c9", "initiationType": "tender", "tender": { "id": "CS0723 ecm_3590", "legalBasis": { "id": "32014L0024", "scheme": "CELEX" }, "title": "Order management, portfolio monitoring and risk analytics system", "status": "complete", "classification": { "scheme": "CPV", "id": "48000000", "description": "Software package and information systems" }, "mainProcurementCategory": "goods", "description": "The Board of the Pension Protection Fund (PPF) is awarding a contract, tendered in accordance with the Public Contracts Regulations 2015 under the Competitive Procedure with Negotiation, to deliver the following systems which have been split into two lots: Lot 1 * Order management system; * Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI). Lot 2 * Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)", "lots": [ { "id": "1", "description": "Lot 1 - Order management system, Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI).", "status": "cancelled", "title": "Lot 1 - Order management system, Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI).", "value": { "amount": 55000000, "currency": "GBP" }, "contractPeriod": { "startDate": "2026-04-01T00:00:00+01:00", "endDate": "2031-03-31T23:59:59+01:00" }, "hasRenewal": true, "renewal": { "description": "The contracts for both Lots 1 and 2 will be for an initial term of 5 years with optional extensions to take the maximum possible term to 10 years." }, "secondStage": { "minimumCandidates": 3, "maximumCandidates": 3 }, "selectionCriteria": { "description": "See tender documents available at https://ppf.bravosolution.co.uk/" }, "submissionTerms": { "variantPolicy": "notAllowed" }, "hasOptions": false, "awardCriteria": { "criteria": [ { "name": "Technical system requirements", "type": "quality", "description": "85" }, { "name": "Price", "type": "quality", "description": "6" }, { "name": "Price Sensitivity", "type": "quality", "description": "6" }, { "name": "Contract", "type": "quality", "description": "3" }, { "type": "price", "description": "100" } ] } }, { "id": "2", "title": "Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)", "description": "Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets) Additional information: Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)", "value": { "amount": 55000000, "currency": "GBP" }, "contractPeriod": { "startDate": "2026-04-01T00:00:00+01:00", "endDate": "2031-03-31T23:59:59+01:00" }, "hasRenewal": true, "renewal": { "description": "The contracts for both Lots 1 and 2 will be for an initial term of 5 years with optional extensions to take the maximum possible term to 10 years." }, "secondStage": { "minimumCandidates": 3, "maximumCandidates": 3 }, "selectionCriteria": { "description": "As stated in the tender documents available at https://ppf.bravosolution.co.uk/" }, "submissionTerms": { "variantPolicy": "notAllowed" }, "hasOptions": false, "status": "cancelled", "awardCriteria": { "criteria": [ { "name": "Technical System Requirements", "type": "quality", "description": "85" }, { "name": "Price", "type": "quality", "description": "6" }, { "name": "Price Sensitivity", "type": "quality", "description": "6" }, { "name": "Contract", "type": "quality", "description": "3" }, { "type": "price", "description": "100" } ] } } ], "items": [ { "id": "1", "additionalClassifications": [ { "scheme": "CPV", "id": "48000000", "description": "Software package and information systems" } ], "deliveryAddresses": [ { "region": "UKI62" }, { "region": "UKI62" }, { "region": "UKI62" } ], "relatedLot": "1", "deliveryLocation": { "description": "Croydon and London" } }, { "id": "2", "additionalClassifications": [ { "scheme": "CPV", "id": "48441000", "description": "Financial analysis software package" } ], "deliveryAddresses": [ { "region": "UKI62" }, { "region": "UKI62" } ], "relatedLot": "2", "deliveryLocation": { "description": "Croydon and London" } } ], "communication": { "futureNoticeDate": "2024-10-01T00:00:00+01:00" }, "coveredBy": [ "GPA" ], "value": { "amount": 55000000, "currency": "GBP" }, "lotDetails": { "maximumLotsAwardedPerSupplier": 2 }, "submissionMethod": [ "electronicSubmission", "written" ], "submissionMethodDetails": "https://ppf.bravosolution.co.uk/", "selectionCriteria": { "criteria": [ { "type": "suitability", "description": "Stated in the tender documents available to download here https://ppf.bravosolution.co.uk/", "appliesTo": [ "supplier" ] } ] }, "documents": [ { "id": "economic", "documentType": "economicSelectionCriteria" }, { "id": "technical", "documentType": "technicalSelectionCriteria" } ], "contractTerms": { "performanceTerms": "Stated in the tender documents available to download here https://ppf.bravosolution.co.uk/", "electronicInvoicingPolicy": "allowed", "hasElectronicPayment": true }, "procurementMethod": "selective", "procurementMethodDetails": "Competitive procedure with negotiation", "secondStage": { "successiveReduction": true, "noNegotiationNecessary": true, "invitationDate": "2025-02-13T00:00:00Z" }, "tenderPeriod": { "endDate": "2025-02-13T12:00:00Z" }, "submissionTerms": { "languages": [ "en" ], "bidValidityPeriod": { "durationInDays": 180 } }, "hasRecurrence": false, "reviewDetails": "The Board of the Pension Protection Fund" }, "parties": [ { "id": "GB-FTS-8833", "name": "Pension Protection Fund", "identifier": { "legalName": "Pension Protection Fund" }, "address": { "streetAddress": "Renaissance, 12 Dingwall Road", "locality": "Croydon", "region": "UKI62", "postalCode": "CR0 2NA", "countryName": "United Kingdom" }, "contactPoint": { "telephone": "+44 8456002541", "email": "claire.lefort@ppf.co.uk", "url": "https://ppf.bravosolution.co.uk/", "name": "Claire Lefort" }, "roles": [ "buyer" ], "details": { "url": "https://ppf.bravosolution.co.uk", "classifications": [ { "scheme": "TED_CA_TYPE", "id": "BODY_PUBLIC", "description": "Body governed by public law" }, { "scheme": "COFOG", "id": "04", "description": "Economic affairs" } ] } }, { "id": "GB-FTS-134800", "name": "The Board of the Pension Protection Fund", "identifier": { "legalName": "The Board of the Pension Protection Fund" }, "address": { "streetAddress": "Renaissance, 12 Dingwall Road", "locality": "Croydon", "postalCode": "CR20 2NA", "countryName": "United Kingdom" }, "contactPoint": { "email": "commercialservices@ppf.co.uk" }, "roles": [ "reviewBody", "mediationBody", "reviewContactPoint" ] }, { "id": "GB-FTS-163075", "name": "BlackRock Financial Management, Inc", "identifier": { "legalName": "BlackRock Financial Management, Inc", "id": "2446204" }, "address": { "streetAddress": "BlackRock's global headquarters: 50 Hudson Yards, New York, NY 10001, United States.", "locality": "New York", "region": "US", "postalCode": "NY 10001", "countryName": "United States" }, "roles": [ "supplier" ], "details": { "url": "http://www.blackrock.com/aladdin", "scale": "large" } }, { "id": "GB-FTS-163076", "name": "BlackRock Financial Management, Inc", "identifier": { "legalName": "BlackRock Financial Management, Inc", "id": "2446204" }, "address": { "streetAddress": "BlackRock's global headquarters: 50 Hudson Yards, New York, NY 10001, United States. BlackRock's primary European office: Drapers Gardens, 12 Throgmorton Avenue, London EC2N 2DL England.", "locality": "New York", "region": "US", "postalCode": "NY 10001", "countryName": "United States" }, "roles": [ "supplier" ], "details": { "url": "http://www.blackrock.com/aladdin", "scale": "large" } } ], "buyer": { "id": "GB-FTS-8833", "name": "Pension Protection Fund" }, "language": "en", "description": "The contract is awarded for an initial term of five years, with the option to extend for up to an additional five years, resulting in a maximum potential duration of ten years. For the purposes of this notice, the total estimated contract value across Lots 1 and 2 over the full ten-year term is projected to range between PS48,766,000 and PS74,025,496. This range reflects both fixed and variable fees, which are influenced by the total assets under management by the PPF. As such, the final value may vary. These figures are based on long-term projections and should be considered indicative, given the ten-year forecasting horizon. The PPF is continually developing its business within a changing market, and it is envisaged that there may be future requirements for further services within the scope of the investment management area; for example, fund accounting, support for additional asset classes or investment strategies, and any such requirements that are complementary or required to support the delivery of the system. The additional services that may be included over the life of the contract may result in a price revision of the original contract and/or may significantly increase or decrease the fees paid in relation to these services. Similarly, there are variable volume related fees associated with the services, if there were to be an increase, or decrease in the volume of assets managed by the PPF, or an amendment in the number of users or types of assets managed this would also lead to a price revision of the original contract and/or may result in a change to the fees paid in relation to these services. The Board makes no guarantee as to the nature and extent of such services or the potential change in assets under management over the course of the contract term, this known, unknown value cannot be reliably predicted at this stage.", "links": [ { "rel": "canonical", "href": "https://ppf.bravosolution.co.uk" } ], "awards": [ { "id": "062522-2025-3590-1", "relatedLots": [ "1" ], "title": "Order management, portfolio monitoring and risk analytics system", "status": "active", "suppliers": [ { "id": "GB-FTS-163075", "name": "BlackRock Financial Management, Inc" } ] }, { "id": "062522-2025-3590-2", "relatedLots": [ "2" ], "title": "Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)", "status": "active", "suppliers": [ { "id": "GB-FTS-163076", "name": "BlackRock Financial Management, Inc" } ] } ], "contracts": [ { "id": "062522-2025-3590-1", "awardID": "062522-2025-3590-1", "title": "Order management, portfolio monitoring and risk analytics system", "status": "active", "value": { "amount": 74025496, "currency": "GBP" }, "dateSigned": "2025-07-29T00:00:00+01:00" }, { "id": "062522-2025-3590-2", "awardID": "062522-2025-3590-2", "title": "Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)", "status": "active", "value": { "amount": 74025496, "currency": "GBP" }, "dateSigned": "2025-07-29T00:00:00+01:00" } ], "bids": { "statistics": [ { "id": "1", "measure": "bids", "relatedLot": "1", "value": 2 }, { "id": "5", "measure": "bids", "relatedLot": "2", "value": 4 }, { "id": "2", "measure": "foreignBidsFromEU", "relatedLot": "1", "value": 2 }, { "id": "3", "measure": "foreignBidsFromNonEU", "relatedLot": "1", "value": 2 }, { "id": "6", "measure": "foreignBidsFromNonEU", "relatedLot": "2", "value": 4 }, { "id": "4", "measure": "electronicBids", "relatedLot": "1", "value": 2 }, { "id": "7", "measure": "electronicBids", "relatedLot": "2", "value": 4 } ] } }