---
title: "Appointment of Pension Fund Manager - Direct Corporate Lending"
ocid: "ocds-h6vhtk-0289f9"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0289f9"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-0289f9.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-0289f9.json"
source: "Find A Tender Service"
current_stage: "Tender"
buyer: "ESSEX PENSION FUND"
published: "2021-01-13"
---

# Appointment of Pension Fund Manager - Direct Corporate Lending

Buyer: ESSEX PENSION FUND  
Current stage: Tender  
OCID: ocds-h6vhtk-0289f9

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## Summary

The Essex Pension Fund is currently seeking proposals for the appointment of an Investment Manager for a Direct Corporate Lending mandate, valued between £200 million and £250 million. The procurement process is at the tender stage, with submissions due by 12th February 2021. This contract, which falls within the pension fund management services sector, is based in Essex, UK. The procurement method used is an open procedure, allowing for a competitive selection process.

This tender presents significant opportunities for businesses specialising in investment management and corporate lending, particularly those with experience in managing large pension funds. Companies that are well-regulated and have a proven track record in senior secured direct corporate lending are ideal candidates. The focus on raising capital for a close-ended commingled fund targeting mid to large-cap companies will attract participants that can offer competitive returns of approximately cash plus 5% to 6% per annum, making it an appealing opportunity for established financial service providers.

## Notice

Essex Pension Fund are seeking to appoint an Investment Manager for a Direct Corporate Lending mandate of approximately PS200m-PS250m. The Council reserve the right to alter the value and length of the contract.

### Lot Information

Lot 1

Essex Pension Fund are seeking to appoint an Investment Manager for a Direct Corporate Lending mandate of approximately PS200m-PS250m. - Tenderers must be appropriately regulated to manage a Direct Corporate Lending mandate for an LGPS client; - Tenderers must be actively raising capital for a close ended commingled Fund in Q2 and Q3 2021; - The Fund must seek to lend 90% or more of assets to 1st lien senior secured corporate debt, to mid - large cap companies; - Tenderers must be the sole or lead lender in the majority of loans; - The majority of loans must be structured with financial maintenance covenants as a minimum; - The Fund should be either Global or European focused; - The Fund should target a net return in the region of cash plus 5% - 6% p.a.; - The Fund must have a minimum target size of PS2 billion; - Tenderers must be on at least their 3rd Fund raise for this specific strategy; - Tenderers must have at least a 5 year track record in Senior Secured Direct Corporate Lending - Tenderers must be able to comply with the appropriate LGPS regulations; - The Council reserves the right to alter the value of the funds awarded and this may change over time; - The Council reserves the right to alter the length of the contract.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/000677-2021 |
| Notice type | Tender Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure |
| Tender suitability | Not specified |
| Awardee scale | Not specified |
| All stages | Tender |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 13 Jan 2021 |
| Submission deadline | 12 Feb 2021 |
| Future notice date | Not specified |
| Award date | Not specified |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | Not specified |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Active |
| Lots status | Active |
| Awards status | Not specified |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | ESSEX PENSION FUND |
| Locality | CHELMSFORD |
| Post town | Chelmsford |
| Postcode | CM1 1LX |
| Country | England |
| ITL 1 | TLH East (England) |
| ITL 2 | TLH3 Essex |
| ITL 3 | TLH36 Heart of Essex |
| Local authority | Chelmsford |
| Electoral ward | Chelmer Village and Beaulieu Park |
| Westminster constituency | Chelmsford |
| Delivery location | TLH3 Essex |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66141000 - Pension fund management services

## Release History

- 13 Jan 2021 at 15:09 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/000677-2021

## Notice URLs

- http://www.essexcc.gov.uk
- http://www.hymans.co.uk
- https://dataresponses@hymans.co.uk

## 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-h6vhtk-0289f9. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-0289f9.json.