---
title: "Provision of Fund Administration, Custody and Related Services"
ocid: "ocds-h6vhtk-03ea34"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-03ea34"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-03ea34.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-03ea34.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)"
published: "2025-11-13"
---

# Provision of Fund Administration, Custody and Related Services

Buyer: NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)  
Current stage: Award  
OCID: ocds-h6vhtk-03ea34

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## Summary

The National Employment Savings Trust (NEST) is overseeing a contract for the provision of fund administration, custody, and related services, focusing on pension fund administration within the UKI region. The procurement process is particularly relevant to the services industry, with Northern Trust Global Investments Limited awarded as the supplier. The contract, currently in its active stage after being updated on 13th November 2025, spans a period of 10 years with an option to extend by an additional 5 years. This procurement was executed through a competitive procedure with negotiation, aligning with the CELEX legal framework 32014L0024. Originally initiated to assess the evolving market offerings and foresee service advancements over the next decade, the process had its tender period ending on 24th August 2023 and was signed on 25th April 2024.

The offered contract presents substantial opportunities for businesses involved in custodial and fund administration services, especially those capable of delivering the outlined core services such as custodian and asset allocation services. Suppliers with a large scale, like Northern Trust, may find it lucrative, particularly if they are prepared to offer additional services like FX Overlay or data management solutions. The contract's scope, covering both immediate and potential future service requirements, suggests ongoing collaborations and business growth prospects over the extended contract period. Businesses well-versed in the competitive procedure with negotiation may be particularly well-suited to engage with such public tender opportunities.

## Notice

This is a contract for the provision of fund administration, custody and related services. Core Services included within the scope of the contract: - Custodian services - Asset allocation and rebalancing services - Investment Performance measurement - Investment Compliance monitoring - Investment Tax services Additional services that may be included throughout the term of the contract include: - FX Overlay - Public and private market investments - Data management The contract is for an initial 10-year period with the option to extend up to an additional 5 years (15 years in total).

### Lot Information

Lot 1

This is a contract for the provision of fund administration, custody and related services. Core Services included within the scope of the contract: - Custodian services - Asset allocation and rebalancing services - Investment Performance measurement - Investment Compliance monitoring - Investment Tax services Additional services that may be included throughout the term of the contract include: - FX Overlay - Public and private market investments - Data management The contract is for an initial 10-year period with the option to extend up to an additional 5 years (15 years in total).

Options: The contract has the option for the provision of related services including: Additional services that may be included throughout the term of the contract include: - FX Overlay - Public and private market investments - Data management

Renewal: This is an ongoing requirement for Nest and, as of date of publication of this notice, it is anticipated that Nest will re-tender this opportunity upon contract expiry (and any contract extension(s) Nest chooses to enter into - see options section).

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/073617-2025 |
| Notice type | Tender Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Selective |
| Procurement method details | Competitive procedure with negotiation |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 13 Nov 2025 |
| Submission deadline | 24 Aug 2023 |
| Future notice date | Not specified |
| Award date | 24 Apr 2024 |
| Contract period | Not specified |
| Recurrence | 10 - 15 years |

## Values

| Field | Value |
| --- | --- |
| Tender value | £79,000,000 |
| Lots value | £79,000,000 |
| Awards value | Not specified |
| Contracts value | £50,000,000 |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Cancelled |
| Awards status | Active |
| Contracts status | Active |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | NATIONAL EMPLOYMENT SAVINGS TRUST (NEST) |
| Locality | LONDON |
| Post town | East London |
| Postcode | E14 4PU |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI4 Inner London - East |
| ITL 3 | TLI42 Tower Hamlets |
| Local authority | Tower Hamlets |
| Electoral ward | Canary Wharf |
| Westminster constituency | Poplar and Limehouse |
| Delivery location | TLI London |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 2 |
| Supplier names | NORTHERN TRUST GLOBAL INVESTMENTS; THE NORTHERN TRUST COMPANY (LONDON BRANCH |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66162000 - Custody services
- 66523100 - Pension fund administration services

## Release History

- 13 Nov 2025 at 15:06 - AwardUpdate - Award Notice - https://www.find-tender.service.gov.uk/Notice/073617-2025
- 13 May 2024 at 16:36 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/015207-2024
- 25 Jul 2023 at 15:45 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/021539-2023

## Notice URLs

- http://www.nestpensions.org.uk
- https://nesttenders.bravosolution.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-03ea34. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-03ea34.json.