---
title: "Fund Administration, Custody, Depository & Client Reporting Services"
ocid: "ocds-h6vhtk-050d18"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-050d18"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-050d18.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-050d18.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "LONDON LGPS CIV LIMITED"
published: "2025-12-04"
---

# Fund Administration, Custody, Depository & Client Reporting Services

Buyer: LONDON LGPS CIV LIMITED  
Current stage: Award  
OCID: ocds-h6vhtk-050d18

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## Summary

The London LGPS CIV Limited is actively engaging in the procurement of Fund Administration, Custody, Depository, and Client Reporting Services, structured across three distinct Lots under Competitive Flexible Procedure as per the Procurement Act 2023. This procurement process is crucial for replacing current providers, with the transition period already set for preparation before the official start date on 1 January 2026. Located in London, the buyer seeks services in the finance and investment administration sector, with key decisions made on 4 December 2025. The procurement stage is complete, with awards pending, and it highlights significant opportunities for large-scale providers capable of delivering comprehensive financial administration and client reporting solutions.

This procurement opens opportunities for businesses, particularly those specialising in financial market administration, trust and custody services, as well as financial reporting and client service facilitation. The tender appeals to businesses offering a scalable operating model across public and private markets, with a strong emphasis on transparency, governance, and integration capabilities. Large enterprises with extensive experience in financial services and SMEs with innovative reporting solutions can capitalize on this opportunity, providing they can demonstrate operational scale and proficiency in handling UK fund structures and global asset classes. This is especially pertinent under the competitive flexible procedure designed to attract robust service delivery partners.

## Notice

The Authority is seeking to appoint one or more suppliers to deliver a range of services in support of its investment fund platform, operational oversight model, and client servicing responsibilities. These services have been grouped into three Lots and will be awarded via a Competitive Flexible Procedure under the Procurement Act 2023. The services sought through this procurement will replace those currently delivered by the Authority's existing providers, whose contracts are due to expire on 31 December 2025. A transition window will be established to allow for implementation and onboarding activities in advance of go-live dates. Suppliers may submit proposals for one, multiple, or all Lots. Each Lot will be evaluated and awarded independently, and the Authority reserves the right to award all, some, or none of the Lots depending on the quality and value of tenders received.

### Lot Information

Core Services

This Lot forms the operational foundation of the Authority's fund platform and includes essential middle- and back-office services across both public and private market funds. The supplier must demonstrate full integration and automation capabilities across the following areas. Custody * Provision of safekeeping for all asset types including public equity, bonds, private assets, and derivatives. * Full trade lifecycle support including settlement, monitoring, and exception resolution. * Corporate actions processing, including notifications, elections, and entitlement collection. * Proxy voting services aligned with client mandates, with reporting on execution. * Cash and income management across multicurrency accounts, with intraday visibility and control. Fund Administration * NAV production and validation across public (e.g. ACS, EUUT) and private fund structures (e.g. SLPs). * Financial reporting and audit support, including trial balances, annual accounts preparation, and year-end reconciliation. * Management of capital calls, distributions, performance fee crystallisation, and valuation challenges. * Flexible reporting across investor levels and fund structures and share classes. Depository Services * Oversight of regulated fund vehicles, including asset safekeeping verification, cash flow monitoring, and breach escalation. * Segregation of oversight and custody where required under regulation. * Periodic due diligence and assurance reporting. Transfer Agency * Subscription, redemption, and switch processing for investors. * Maintenance of investor registers, anti-money laundering compliance, and document collection. * Client onboarding, portal access, and investor servicing SLAs. * Tailored to both listed and unlisted fund share classes. Investment Operations * Oversight of middle-office processes: trade capture, reconciliations (cash, positions, transactions), and lifecycle monitoring. * Data management for positions, transactions, and reference data including fund static. * Integration with Investment Managers, custodians, and third-party systems. * Provision of timely dashboards, workflow tools, and MI reporting. * Placement of Orders for Pooled Fund activity and Private Market Fund Drawdowns, including FX trade placement. Withholding Tax * Maintenance of tax documentation across jurisdictions. * Application of relief at source where eligible. * Reclaim filing and monitoring, with visibility of status and recovery timing. Reporting on open reclaims, timelines, and recovery rates Suppliers are expected to: Demonstrate operational scale, regulatory expertise, and automation across services Support UK fund structures (e.g., ACS, EUUTs) and global asset classes Provide transparent, flexible service models with strong MI and risk oversight Evidence technology infrastructure, data controls, and continuity measures

Renewal: Subject to enduring requirements and absence of alternative provision.

Client Reporting Services

Lot 2 comprises client-facing reporting and oversight services to support transparency, engagement, and governance with London CIV's underlying clients. This Lot includes the production of standardised client reports, the integration of data sources and systems to enable reporting automation, and the provision of dashboards and oversight tools that facilitate monitoring of service performance This Lot covers services including: Client Reporting * Production of standardised reports (performance, attribution, holdings, risk) tailored to different client types. * Support for templated and bespoke reporting across Private and Public market fund structures. * Adherence to agreed reporting deadlines and publication schedules. * Support for ESG and stewardship-related metrics and disclosures. * Support for SFDR, TCFD, and TNFD reporting where required Data Integration * Integration with third-party systems (e.g. custodians, fund admins) to automatically ingest data. * Reconciliation of data feeds and validation of input data for accuracy. * Data validation processes and audit logs for change management * Daily/weekly/monthly/Quarterly automated data refresh where required. Reporting Flexibility * Support for evolving templates, branding, regulatory disclosures, and investor requirements. * Ability to accommodate new mandates or fund launches with minimal lead time. * Support for cross-fund and cross-client asset consolidated views * Scalable report configuration through no-code or low-code tools Oversight & Engagement Tools * Provision of dashboards to track reporting completion, delays, or data issues. * Workflow tools to support approval and escalation processes. * Audit trails and export functionality for internal oversight. Suppliers are expected to: Demonstrate advanced, flexible reporting platforms and delivery formats Offer reporting aligned to regulatory and client-specific reporting cycles Show integration capabilities with fund administrators, custodians, and performance providers Evidence client access tools and transparency features

Renewal: Contract is structured as 3 + 2 + 2, extensions will be subject to performance and operational requirements

Ancillary Services

Lot 3 comprises additional value-added services that may be required by the Authority in future. These services will be tendered as part of this procurement, but are not guaranteed to be implemented. The inclusion of Lot 3 is intended to support strategic flexibility and operational scalability Performance Measurement and Attribution * Delivery of absolute and relative performance figures across portfolio and benchmarks * Daily and monthly performance calculations at total fund, asset class, and security level. * Time-weighted and money-weighted returns with appropriate benchmarks. * Attribution models to support manager evaluation. * Performance dashboards and historical performance reports. Fund Compliance and Breach Monitoring * Setup and maintenance of investment compliance rules based on fund prospectuses and mandates. * Daily automated breach checks against key metrics (e.g. issuer concentration, duration, credit rating). * Alerts, reporting, and audit trails for compliance monitoring. * Workflow and resolution tools to track breach resolution and reporting obligations. Suppliers must clearly indicate the services offered within this Lot. Suppliers are expected to: Demonstrate specialist expertise and systems in respective service areas Show integration ability with other vendors or platforms Provide examples of existing client service models and SLAs

Renewal: Contract is structured on a 3+2+2 basis.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/079676-2025 |
| Notice type | UK6 - Contract Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Competitive flexible procedure |
| Tender suitability | SME |
| Awardee scale | Large, SME |
| All stages | Planning, Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 4 Dec 2025 |
| Submission deadline | 27 Jun 2025 |
| Future notice date | 30 May 2025 |
| Award date | 4 Dec 2025 |
| Contract period | 1 Jan 2026 - 31 Dec 2028 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £36,000,000 |
| Lots value | £36,000,000 |
| Awards value | £19,003,678 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Complete |
| Awards status | Pending |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | LONDON LGPS CIV LIMITED |
| Locality | LONDON |
| Post town | South East London |
| Postcode | SE1 0NZ |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI4 Inner London - East |
| ITL 3 | TLI44 Lewisham and Southwark |
| Local authority | Southwark |
| Electoral ward | Borough & Bankside |
| Westminster constituency | Bermondsey and Old Southwark |
| Delivery location | TLC North East (England), TLD North West (England), TLE Yorkshire and The Humber, TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLI London, TLJ South East (England), TLK South West (England) |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 2 |
| Supplier names | NORTHERN TRUST GLOBAL INVESTMENTS; OPUS NEBULA |

## CPV Codes

### Divisions

- 48 - Software package and information systems
- 66 - Financial and insurance services
- 72 - IT services: consulting, software development, Internet and support

### Codes

- 48440000 - Financial analysis and accounting software package
- 48812000 - Financial information systems
- 66150000 - Financial markets administration services
- 66160000 - Trust and custody services
- 66500000 - Insurance and pension services
- 66600000 - Treasury services
- 72510000 - Computer-related management services

## Release History

- 4 Dec 2025 at 11:52 - Award - UK6 - Contract Award Notice - https://www.find-tender.service.gov.uk/Notice/079676-2025
- 18 Jun 2025 at 13:04 - Tender - UK4 - Tender Notice - https://www.find-tender.service.gov.uk/Notice/033324-2025
- 6 May 2025 at 12:15 - Planning - UK1 - Pipeline Notice - https://www.find-tender.service.gov.uk/Notice/019087-2025

## Documents

- https://www.find-tender.service.gov.uk/Notice/079676-2025
  4th December 2025 - Contract award notice on Find a Tender
- https://www.find-tender.service.gov.uk/Notice/033324-2025
  18th June 2025 - Tender notice on Find a Tender
- https://www.find-tender.service.gov.uk/Notice/019087-2025
  6th May 2025 - Pipeline notice on Find a Tender
- https://www.find-tender.service.gov.uk/Notice/Attachment/A-2310
- https://www.find-tender.service.gov.uk/Notice/Attachment/A-2311
  Draft Contract Award Form
- https://www.find-tender.service.gov.uk/Notice/Attachment/A-2312
  Mid-Tier Core Terms
- https://www.find-tender.service.gov.uk/Notice/Attachment/A-2313
  Competitive Flexible Procedure Document
- https://www.find-tender.service.gov.uk/Notice/Attachment/A-2314
  Procurement Specific Questionnaire

## Notice URLs

- http://www.bny.com
- http://www.opus-nebula.com
- http://www.statestreet.com
- https://www.legislation.gov.uk/ukpga/2023/54/contents
- https://www.northerntrust.com/united-kingdom/home

## 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-050d18. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-050d18.json.