---
title: "DfE - Invest NI - Management of Co-Fund I, II and III"
ocid: "ocds-h6vhtk-048a2e"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-048a2e"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-048a2e.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-048a2e.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "INVEST NORTHERN IRELAND"
published: "2024-09-25"
---

# DfE - Invest NI - Management of Co-Fund I, II and III

Buyer: INVEST NORTHERN IRELAND  
Current stage: Award  
OCID: ocds-h6vhtk-048a2e

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-048a2e)  
[Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-048a2e.json)

## Summary

Invest Northern Ireland is seeking to appoint a fund manager to oversee and deliver the Co-Investment Fund III (CIF III) for a ten-year period, with an option to extend the contract for up to four additional one-year periods. The procurement falls under the Banking and Investment Services category and will be governed by both a Limited Partnership Agreement (LPA) and a Management Services Agreement (MSA). The contract, valued at approximately £7,628,724, is currently in the "award" stage, with Clarendon Fund Managers Limited named as the successful supplier. The initial ten-year period is split into a five-year investment phase and a five-year follow-on and exit phase, specifically targeting the UKN region, including Belfast.

This tender presents a substantial opportunity for fund management firms specialising in corporate finance, venture capital, and financial & insurance services. The long-term nature of the contract and potential for extensions offer stability and growth potential for the awarded firm. Businesses with strong expertise in personnel recruitment, venture capital development, and links to private investors are well-suited to compete. The emphasis on governance, social value, and marketing strategy development in the award criteria highlights the focus on quality and sustainable business practices, positioning firms to enhance their market standing and foster long-term partnerships.

## Notice

Invest NI is seeking to appoint a fund manager to manage and deliver CIF III for a ten-year period with an option to extend for four periods of one year each. The initial ten-year term is split into a five year investment period, followed by a five year follow on and exit period. A legal contract, by way of a Limited Partnership Agreement ("LPA") and a Management Services Agreement ("MSA"), will govern the ten-year contract to deliver CIF III and a draft LPA and MSA will be included in the tender documents.

### Lot Information

Lot 1

Invest NI is seeking to appoint a fund manager to manage and deliver CIF III for a ten-year period with an option to extend for four periods of one year each. The initial ten-year term is split into a five year investment period, followed by a five year follow on and exit period. A legal contract, by way of a Limited Partnership Agreement ("LPA") and a Management Services Agreement ("MSA"), will govern the ten-year contract to deliver CIF III and a draft LPA and MSA will be included in the tender documents. Additional information: The figure indicated in Section II 1.7 represents an estimated contract value. This value reflects the potential scale of the contract and takes into account potential optional extension periods and the uptake of potential optional services as detailed in the tender documents. This figure does not however take into account the application of indexation. Neither CPD nor the Authority can provide any guarantee as to the level of business under this contract. The Contracting Authority does not bind itself to accept the lowest or any tender. Economic Operators remain responsible for all costs and expenses incurred by them or by any third party acting under instructions from the Economic Operator in connection with taking part in this procurement process regardless of whether such costs arise as a consequence, directly or indirectly of any amendments made to the procurement documents by the Contracting Authority at any time. No legally binding contract shall arise and an Economic Operator shall. have no legitimate expectation that a contract will be entered into until such time as entry into the Contract has been confirmed by the. Contracting Authority. Economic Operators should note that all dates, time periods and figures in relation to values and volumes specified. in this notice and the procurement documents are approximate only and the Contracting Authority reserves the right to change any or all oft hem.

Options: four periods of one year

Renewal: the option to extend for 4 further periods of 1 year each.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/030663-2024 |
| Notice type | Tender Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure |
| Tender suitability | Not specified |
| Awardee scale | SME |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 25 Sep 2024 |
| Submission deadline | 12 Sep 2024 |
| Future notice date | Not specified |
| Award date | 23 Sep 2024 |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £9,685,000 |
| Lots value | £9,685,000 |
| Awards value | Not specified |
| Contracts value | £7,628,724 |

## Status

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

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | INVEST NORTHERN IRELAND |
| Locality | BELFAST |
| Post town | Northern Ireland |
| Postcode | BT2 7ES |
| Country | Northern Ireland |
| ITL 1 | TLN Northern Ireland |
| ITL 2 | TLN0 Northern Ireland |
| ITL 3 | TLN06 Belfast |
| Local authority | Belfast |
| Electoral ward | Central |
| Westminster constituency | Belfast South and Mid Down |
| Delivery location | TLN Northern Ireland |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | CLARENDON FUND MANAGERS |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66000000 - Financial and insurance services
- 66100000 - Banking and investment services
- 66122000 - Corporate finance and venture capital services

## Release History

- 25 Sep 2024 at 15:21 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/030663-2024
- 13 Aug 2024 at 09:04 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/025541-2024

## Notice URLs

- https://etendersni.gov.uk/epps

## 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-048a2e. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-048a2e.json.