--- title: "Cheshire East Borough Council - Procurement of Fund Management Services_ - AWARD" ocid: "ocds-b5fd17-2c84f955-e417-4bde-9d6b-5eb0516c791c" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-2c84f955-e417-4bde-9d6b-5eb0516c791c" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-2c84f955-e417-4bde-9d6b-5eb0516c791c.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-2c84f955-e417-4bde-9d6b-5eb0516c791c.json" source: "Contracts Finder" current_stage: "Award" buyer: "CIRRUS PURCHASING" published: "2020-04-17" --- # Cheshire East Borough Council - Procurement of Fund Management Services_ - AWARD Buyer: CIRRUS PURCHASING Current stage: Award OCID: ocds-b5fd17-2c84f955-e417-4bde-9d6b-5eb0516c791c [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-2c84f955-e417-4bde-9d6b-5eb0516c791c) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-2c84f955-e417-4bde-9d6b-5eb0516c791c.json) ## Summary The procurement process conducted by Cirrus Purchasing for Cheshire East Borough Council involved the award of a contract for Fund Management Services, part of the Cheshire and Warrington Development Fund (CWDF) initiative. The open tender, which concluded on 5th November 2019, focused on acquiring services to manage and market the investment fund, which is funded by £20 million from the European Regional Development Funds (ERDF). The awarded contract, valued at £1 million, began on 9th April 2020 and will continue until 8th April 2030, with the successful supplier being CBRE Indirect Investment Services Ltd. This tender presents significant growth opportunities for businesses specialising in financial consultancy, investment management, and related services. Companies that can demonstrate expertise in managing investment funds, securing match funding, and ensuring compliance with financial regulations would be particularly well-suited to compete in such tenders. With ongoing demand for effective fund management services aimed at stimulating economic growth within the region, suppliers in these industries are encouraged to explore similar contracts to expand their portfolio and capabilities. ## Notice As part of a package of programmes to stimulate and drive growth, the LEP in conjunction with Cheshire East Borough Council as the accountable body, has secured PS20m of European Regional Development Funds (ERDF) to establish an investment fund called the Cheshire and Warrington Development Fund (CWDF). The proposed CWDF will be complementary to the Evergreen 1 fund established in 2011 and the Greater Manchester Evergreen 2 fund. The Evergreen 1(EG1) fund was very successful. Cheshire and Warrington received PS37m (some of this is still in final assessment) from the fund which is now fully committed. The tender process was for the procurement of fund management services to deliver the CWDF. As part of the contract, the successful service provider will be required to deliver the following services: - Manage and market the fund and the entire investment cycle - Launch the fund - Market the fund - Manage all enquires - Generate applications to the fund - Secure a minimum of PS20m of match funding which can be at a fund or investee level - Identify, monitor and report co-investment in accordance with Article 1 of the Commission Implementing Regulation (821/2014). - Work with other funds, funders, and investees, most notably Evergreen 1 to assess the benefit of adding this funding to wider funding packages for projects - Assess and develop the applications - Invest the funds - Carry out financial and commercial due diligence - Ensure all investments made are state aid compliant - Issue heads of terms - Make investment recommendations to the CWDF board - Issue contracts for investments - Monitor the investments and ensure repayments are made on time, and if not work with the applicant to take remedial action - Ensure outputs are achieved and recorded in compliance with ERDF guidelines. CBRE Indirect Investment Services Ltd were the successful service provider awarded the contract. ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/62d71a0c-1cb3-4c72-8943-a0f8f783de42 | | Notice type | Award Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure | | Tender suitability | SME | | Awardee scale | Large | | All stages | Award | ## Dates | Field | Value | | --- | --- | | Publication date | 17 Apr 2020 | | Submission deadline | 5 Nov 2019 | | Future notice date | Not specified | | Award date | 24 Jan 2020 | | Contract period | 8 Apr 2020 - 8 Apr 2030 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £1,000,000 | | Lots value | Not specified | | Awards value | £320,000 | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Complete | | Lots status | Not specified | | Awards status | Active | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | CIRRUS PURCHASING | | Locality | WINSFORD | | Post town | Crewe | | Postcode | CW7 1AH | | Country | England | | ITL 1 | TLD North West (England) | | ITL 2 | TLD6 Cheshire | | ITL 3 | TLD63 Cheshire West and Chester | | Local authority | Cheshire West and Chester | | Electoral ward | Winsford Dene | | Westminster constituency | Mid Cheshire | | Delivery location | TLD North West (England) | ## Supplier | Field | Value | | --- | --- | | Number of suppliers | 1 | | Supplier names | CBRE | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66171000 - Financial consultancy services ## Release History - 17 Apr 2020 at 13:41 - AwardUpdate - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/62d71a0c-1cb3-4c72-8943-a0f8f783de42 - 17 Apr 2020 at 13:36 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/62d71a0c-1cb3-4c72-8943-a0f8f783de42 ## Documents - https://www.contractsfinder.service.gov.uk/Notice/62d71a0c-1cb3-4c72-8943-a0f8f783de42 17th April 2020 - Awarded contract notice on Contracts Finder ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-2c84f955-e417-4bde-9d6b-5eb0516c791c. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-2c84f955-e417-4bde-9d6b-5eb0516c791c.json.