--- title: "LGPS Central Depositary and Asset Services" ocid: "ocds-b5fd17-cb604e2c-c035-409e-ba2a-5b5cc893ba56" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-cb604e2c-c035-409e-ba2a-5b5cc893ba56" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-cb604e2c-c035-409e-ba2a-5b5cc893ba56.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-cb604e2c-c035-409e-ba2a-5b5cc893ba56.json" source: "Contracts Finder" current_stage: "Award" buyer: "WOLVERHAMPTON CITY COUNCIL" published: "2017-06-15" --- # LGPS Central Depositary and Asset Services Buyer: WOLVERHAMPTON CITY COUNCIL Current stage: Award OCID: ocds-b5fd17-cb604e2c-c035-409e-ba2a-5b5cc893ba56 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-cb604e2c-c035-409e-ba2a-5b5cc893ba56) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-cb604e2c-c035-409e-ba2a-5b5cc893ba56.json) ## Summary The procurement process titled "LGPS Central Depositary and Asset Services" is being conducted by Wolverhampton City Council. This initiative falls under the financial and insurance services industry and is aimed at providing depositary, custody, registrar, transfer agency, and administration services as part of an investment pooling strategy for eight local government pension funds within the Midlands. Key dates include the tender period, which closed on 16 January 2017, and the contract period commencing on 19 June 2017, concluding on 30 November 2028. The procurement method applied is selective, specifically through a restricted procedure, involving a two-stage process for bid evaluation. This contract presents significant opportunities for firms engaged in financial services and asset management, especially those with experience in providing comprehensive administrative services and custody operations. Businesses that are well-positioned to compete include larger firms with the capacity to handle substantial contracts, given the minimum contract value of £10 million and a total estimated value of £20 million. The successful provider will support a collaborative investment initiative, potentially enhancing their visibility and reputation while contributing to cost savings for public sector pension schemes. ## Notice LGPS Central Limited is seeking a provider to undertake depositary and custody services; registrar and transfer agency services; and administration services. The successful bidder will enter into one or more contracts to provide these services. Information about LGPS Central: Eight Local Government Pension Funds, all based in the Midlands, intend to create an investment pool. Which will see the creation of a multi asset investment pool of PS35 billion. The Participating Funds in the LGPS Central Investment Pool are Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, West Midlands (including the West Midlands Integrated Transport Authority) and Worcestershire. The collaboration will aim to deliver cost savings and to build on the individual participating Funds' strong investment performances by providing scale, increased resilience, knowledge sharing and robust governance and decision making arrangements. Individual participating Funds will continue to retain their separate identities and local accountability. The collaboration will offer an equal say in the oversight of the new entity to each participating Fund. LGPS Central Limited is a company jointly owned by the participating local authorities and will be responsible for providing centralised administration services. Additional information: LGPS Central Limited reserves the right to cancel the procurement process at any stage for any reason; to amend the terms and conditions; and/or to vary the scope of the services required and it shall not be liable to any bidder as a result of this action. All bidders are solely responsible for their costs and expenses incurred in connection with the preparation and submission of their proposal. Any agreement entered into will be governed by English and Welsh law and will be subject to the exclusive jurisdiction of the English Courts. The procurement process will have two stages. The first stage is a selection process to select a shortlist of up to four bidders. For the first stage bidders are required to complete a selection questionnaire and return using the e-tendering portal at www.wolverhamptontenders.com and searching for "PP16162 - LGPS Central Depositary and Asset Services". Bidders selected for the second stage will be required to submit a detailed proposal and negotiate with the authority. A preferred bidder will be selected by May 2017 and further negotiation will be undertaken to agree a final contract and pricing by the end of 2017. Please allow sufficient time to submit your response via the e-tendering portal. ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/6e95ca09-4ad9-4e82-a3fe-4395428226b4 | | Notice type | Award Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Selective | | Procurement method details | Restricted procedure | | Tender suitability | Not specified | | Awardee scale | Large | | All stages | Tender, Award | ## Dates | Field | Value | | --- | --- | | Publication date | 15 Jun 2017 | | Submission deadline | 16 Jan 2017 | | Future notice date | Not specified | | Award date | 20 Apr 2017 | | Contract period | 18 Jun 2017 - 30 Nov 2028 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £20,000,000 | | Lots value | Not specified | | Awards value | £50,000,000 | | 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 | WOLVERHAMPTON CITY COUNCIL | | Locality | WOLVERHAMPTON | | Post town | Wolverhampton | | Postcode | WV1 1RL | | Country | England | | ITL 1 | TLG West Midlands (England) | | ITL 2 | TLG3 West Midlands | | ITL 3 | TLG39 Wolverhampton | | Local authority | Wolverhampton | | Electoral ward | St Peters | | Westminster constituency | Wolverhampton West | | Delivery location | TLG West Midlands (England) | ## Supplier | Field | Value | | --- | --- | | Number of suppliers | 1 | | Supplier names | NORTHERN TRUST | ## CPV Codes ### Divisions - 66 - Financial and insurance services - 79 - Business services: law, marketing, consulting, recruitment, printing and security ### Codes - 66000000 - Financial and insurance services - 79900000 - Miscellaneous business and business-related services ## Release History - 15 Jun 2017 at 11:14 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/6e95ca09-4ad9-4e82-a3fe-4395428226b4 - 19 Dec 2016 at 14:06 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/6f7a9414-e39e-45c4-a313-44a827b7bb86 ## Documents - https://www.contractsfinder.service.gov.uk/Notice/6e95ca09-4ad9-4e82-a3fe-4395428226b4 15th June 2017 - Awarded contract notice on Contracts Finder - https://www.contractsfinder.service.gov.uk/Notice/6f7a9414-e39e-45c4-a313-44a827b7bb86 19th December 2016 - Opportunity notice on Contracts Finder - http://www.wmpfonline.com/CHttpHandler.ashx?id=10550&p=0Further Further information in relation to the Investment Pooling can be found at: - http://www.cheshirepensionfund.org/ Cheshire LGPS - http://www.derbyshire.gov.uk/working_for_us/pensions/ Derbyshire LGPS - http://www.leics.gov.uk/pensions Leicestershire LGPS - http://www.nottspf.org.uk/ Nottinghamshire LGPS - https://shropshirecountypensionfund.co.uk/ Shropshire LGPS - https://www.staffspf.org.uk/Home.aspx Staffordshire LGPS - http://www.wmpfonline.com/ West Midlands LGPS - http://www.worcestershire.gov.uk/pensions Worcestershire LGPS ## Notice URLs - http://www.wmpfonline.com/CHttpHandler.ashx?id=10550&p=0 ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. 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