---
title: "Fund Managers for the South East Investment Fund and the East of England Investment Fund"
ocid: "ocds-h6vhtk-05f5ca"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-05f5ca"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-05f5ca.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-05f5ca.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "BRITISH BUSINESS BANK"
published: "2026-05-05"
---

# Fund Managers for the South East Investment Fund and the East of England Investment Fund

Buyer: BRITISH BUSINESS BANK  
Current stage: Award  
OCID: ocds-h6vhtk-05f5ca

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-05f5ca)  
[Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-05f5ca.json)

## Summary

The British Business Bank, a public authority within the central government, has recently completed a procurement process to appoint fund managers for two significant investment funds: the South East Investment Fund (SEIF) and the East of England Investment Fund (EEIF). The procurement, which utilised an open and competitive flexible procedure, has been managed by the Bank's subsidiary, Nations and Regions Investments Limited (NRIL). With the awards announced in May 2026, these funds are designed to provide substantial economic support within the regions, with contract services expected to commence from 27th June 2026. The procurement covered financial and insurance services and involved several key dates, such as the award notice dated 5th May 2026, and a future contract signature scheduled for 26th June 2026.

These investment opportunities offer substantial potential for business growth, particularly for SMEs in the financial sector. With a total allocation of £350 million, split between equity and debt investments, organisations with regional experience and a successful track record of funding SMEs in the South East and East of England are particularly well-suited for this opportunity. Businesses involved in financial and insurance services, including investment banking and loan brokerage, are ideal contenders. The SEIF and EEIF are strategically designed to boost regional economic development by extending financial support beyond traditional public sector grants, thus encouraging a more sustainable and investment-focused culture among smaller businesses. The alignment with national goals, such as net-zero commitments and inclusive financing, further enhances the business climate for diverse firms looking to innovate and expand.

## Notice

The British Business Bank (the Bank) is a government-owned economic development bank that makes finance markets for smaller businesses work more effectively. Our mission is to drive economic growth by helping smaller businesses get the finance they need to start, scale and stay in the UK. In doing so, we help capture the economic value of innovation for the UK and create jobs and prosperity for people across the country. The Bank designs programmes that provide funds and guarantees to private sector partners, enabling them to finance a greater number of smaller businesses, either through debt or equity. It uses economic evidence so that its programmes address market failures affecting smaller businesses across the economy. It also works to improve smaller businesses' awareness of the finance options available to them. Nations and Regions Investments Limited (NRIL) is a wholly owned subsidiary of the British Business Bank that manages a number of investment schemes for the Department for Business and Trade (DBT), including the proposed South East Investment Fund (SEIF) and East of England Investment Fund (EEIF). NRIL is the Contracting Authority for this procurement. In the 2025 Spending Review, the Government announced an extension of the Nations and Regions Investment Funds (NRIF) programme to include PS350m to be made available for the South East and the East of England regions. The funds are to be allocated according to the following split: - PS210m for the South East Investment Fund (SEIF) - PS140m for the East of England Investment Fund (EEIF) Within each region the funding will be split into two sub-funds: one for Equity (approximately 60% - offering early stage and later stage equity investments up to PS5m); and one for Debt (approximately 40% - offering business loans of between PS25,000 and PS2m). A proportion of each fund will be held back ("Investor Reserve") and may be added as additional funding ("Additional Allocation") depending on circumstances and particular factors. Tenderers are expected to have some regional experience and a track record of funding viable Small and Medium Enterprises (SMEs) that are looking to grow. Tenderers should be aligned to the Programme Objectives, that the funds will: - increase the supply and diversity of early-stage finance for UK smaller businesses, providing funds to firms that might otherwise not receive investment and helping to reduce disparities in access to finance; - be run in a commercially sustainable way to promote a shift away from an expectation of public sector grants towards a culture of borrowing and investing for growth; - drive sustainable economic growth through supporting new and growing businesses across the UK with an inclusive approach to all eligible sectors; - have a demonstrable presence across the relevant geographical area linking up the finance community to increase reach and create an impact beyond the funds, helping to boost productivity, innovation and jobs; - align with the Bank's commitments to net zero by 2050 and promoting diversity, equity and inclusion in the distribution of finance. It is expected that NRIL will begin making investment commitments to the SEIF and EEIF Fund Managers in Summer 2026. The duration of the Contract Services will be: - Investment Period: The first 5 years of the fund during which the Fund can make new investments. This period can be extended by up to two years at the sole discretion of NRIL. - Realisation: the period beginning immediately after the Investment Period and ending on the date which is 5 years after the end of the Investment Period (which will include the ability of the SEIF and EEIF Fund Managers to make follow-on investments in portfolio businesses). This period can be extended by up to two years at the sole discretion of NRIL.

### Lot Information

South East Investment Fund - Equity

Initial Allocation of Funds: PS88m Equity investments up to PS5m - this figure may be exceeded in exceptional circumstances and with Investor Consent In the South East of England Region only Geographical Targets (ITL2 and ITL3 areas) as set out in the procurement documentation and the Contract. The Lot Value is the estimated maximum value of Fund Manager fees that the Authority expects to pay under the agreement.

Renewal: During the Investment Period (first 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority. During the Realisation period (subsequent 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority.

South East Investment Fund - Debt

Initial Allocation of Funds: PS59m Debt loans from PS25k up to PS2m - this figure may be exceeded in exceptional circumstances and with Investor Consent In the South East of England Region only Geographical Targets (ITL2 and ITL3 areas) as set out in the procurement documentation and the Contract. The Lot Value is the estimated maximum value of Fund Manager fees that the Authority expects to pay under the agreement.

Renewal: During the Investment Period (first 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority. During the Realisation period (subsequent 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority.

East of England Investment Fund - Equity

Initial Allocation of Funds: PS63m Equity investments up to PS5m - this figure may be exceeded in exceptional circumstances and with Investor Consent In the East of England Region only Geographical Targets (ITL2 and ITL3 areas) as set out in the procurement documentation and the Contract. The Lot Value is the estimated maximum value of Fund Manager fees that the Authority expects to pay under the agreement.

Renewal: During the Investment Period (first 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority. During the Realisation period (subsequent 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority.

East of England Investment Fund - Debt

Initial Allocation of Funds: PS42m Debt loans from PS25k up to PS2m - this figure may be exceeded in exceptional circumstances and with Investor Consent In the East of England Region only Geographical Targets (ITL2 and ITL3 areas) as set out in the procurement documentation and the Contract. The Lot Value is the estimated maximum value of Fund Manager fees that the Authority expects to pay under the agreement.

Renewal: During the Investment Period (first 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority. During the Realisation period (subsequent 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/041235-2026 |
| 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 | SME |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 5 May 2026 |
| Submission deadline | 2 Feb 2026 |
| Future notice date | Not specified |
| Award date | 22 Apr 2026 |
| Contract period | 26 Jun 2026 - 26 Jun 2036 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £52,000,000 |
| Lots value | £52,000,000 |
| Awards value | £52,000,000 |
| 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 | BRITISH BUSINESS BANK |
| Locality | SHEFFIELD |
| Post town | Sheffield |
| Postcode | S1 2GQ |
| Country | England |
| ITL 1 | TLE Yorkshire and The Humber |
| ITL 2 | TLE3 South Yorkshire |
| ITL 3 | TLE32 Sheffield |
| Local authority | Sheffield |
| Electoral ward | City |
| Westminster constituency | Sheffield Central |
| Delivery location | TLH East (England), TLJ South East (England) |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 4 |
| Supplier names | BEECHBROOK CAPITAL; FSE FUND MANAGERS; MAVEN CAPITAL PARTNERS; MERCIA REGIONAL INVESTMENTS |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66000000 - Financial and insurance services
- 66100000 - Banking and investment services
- 66120000 - Investment banking services and related services
- 66122000 - Corporate finance and venture capital services
- 66190000 - Loan brokerage services

## Release History

- 5 May 2026 at 16:06 - Award - UK6 - Contract Award Notice - https://www.find-tender.service.gov.uk/Notice/041235-2026
- 15 Dec 2025 at 14:05 - Tender - UK4 - Tender Notice - https://www.find-tender.service.gov.uk/Notice/082931-2025

## Documents

- https://www.find-tender.service.gov.uk/Notice/041235-2026
  5th May 2026 - Contract award notice on Find a Tender
- https://www.find-tender.service.gov.uk/Notice/082931-2025
  15th December 2025 - Tender notice on Find a Tender

## Notice URLs

- https://www.delta-esourcing.com/respond/R4594N87CC
- https://www.legislation.gov.uk/ukpga/2023/54/contents

## 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-05f5ca. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-05f5ca.json.