{ "tag": [ "compiled" ], "id": "ocds-r6ebe6-0000840049-2026-10-09T00:00:00Z", "date": "2026-10-09T00:00:00Z", "ocid": "ocds-r6ebe6-0000840049", "initiationType": "tender", "parties": [ { "id": "org-48", "name": "Scottish National Investment Bank", "identifier": { "legalName": "Scottish National Investment Bank" }, "address": { "streetAddress": "1-North, Waverley Gate, 2-4 Waterloo Place", "locality": "Edinburgh", "region": "UKM75", "postalCode": "EH1 3EG" }, "contactPoint": { "email": "procurement@thebank.scot", "url": "http://www.publiccontractsscotland.gov.uk" }, "roles": [ "buyer" ], "details": { "classifications": [ { "id": "Body governed by public law", "scheme": "TED_CA_TYPE" }, { "id": "04", "description": "Economic affairs", "scheme": "COFOG" } ], "url": "http://www.thebank.scot" } }, { "id": "org-49", "name": "Edinburgh Sheriff Court", "identifier": { "legalName": "Edinburgh Sheriff Court" }, "address": { "streetAddress": "27 Chambers Street", "locality": "Edinburgh", "postalCode": "EH1 1LB" }, "contactPoint": { "url": "http://" }, "roles": [ "reviewBody" ] } ], "buyer": { "name": "Scottish National Investment Bank", "id": "org-48" }, "tender": { "id": "CON-0313", "title": "The Provision of Investment Management Services for the Scottish Universities Fund Ignition Strategy", "description": "The Bank is seeking proposals from suitably qualified and authorised investment management firms to establish and manage a 15 million GBP segregated investment mandate for the delivery of the Scottish Universities Ignition Fund Strategy (\"the Mandate\"). The successful bidder will be expected to establish and operate an appropriate investment vehicle through which the Mandate will be delivered, with the Bank acting as the sole investor. The Mandate forms one of two complementary investment strategies within the Scottish Universities Fund (\"SUF\"), a broader investment platform designed to support the creation, growth and long-term scaling of university-originated companies in Scotland. The purpose of this Invitation to Tender (ITT) is to appoint an investment manager with delegated discretion to manage the Mandate in accordance with an agreed Investment Management Contract and the requirements set out in this ITT.", "status": "active", "items": [ { "id": "1", "additionalClassifications": [ { "id": "66100000", "scheme": "CPV" } ], "deliveryAddresses": [ { "region": "UK" } ], "relatedLot": "1" } ], "value": { "amount": 6500000, "currency": "GBP" }, "procurementMethod": "open", "procurementMethodDetails": "Open procedure", "mainProcurementCategory": "services", "submissionMethod": [ "electronicSubmission" ], "submissionMethodDetails": "http://www.publiccontractsscotland.gov.uk", "tenderPeriod": { "endDate": "2026-11-10T12:00:00Z" }, "awardPeriod": { "startDate": "2026-11-10T12:00:00Z" }, "documents": [ { "id": "OCT566430", "documentType": "contractNotice", "title": "The Provision of Investment Management Services for the Scottish Universities Fund Ignition Strategy", "description": "The Bank is seeking proposals from suitably qualified and authorised investment management firms to establish and manage a 15 million GBP segregated investment mandate for the delivery of the Scottish Universities Ignition Fund Strategy (\"the Mandate\"). The successful bidder will be expected to establish and operate an appropriate investment vehicle through which the Mandate will be delivered, with the Bank acting as the sole investor. The Mandate forms one of two complementary investment strategies within the Scottish Universities Fund (\"SUF\"), a broader investment platform designed to support the creation, growth and long-term scaling of university-originated companies in Scotland. The purpose of this Invitation to Tender (ITT) is to appoint an investment manager with delegated discretion to manage the Mandate in accordance with an agreed Investment Management Contract and the requirements set out in this ITT.", "url": "https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=OCT566430", "format": "text/html" }, { "id": "OCT566430-1", "title": "Schedule 1 Form of Tender", "datePublished": "2026-10-09T15:50:05Z", "dateModified": "2026-10-09T15:50:05Z", "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document" }, { "id": "OCT566430-2", "title": "Schedule 3- Pricing Schedule", "datePublished": "2026-10-09T15:50:05Z", "dateModified": "2026-10-09T15:50:05Z", "format": "application/vnd.openxmlformats-officedocument.spreadsheetml.sheet" }, { "id": "OCT566430-3", "title": "Appendix C- Investee Briefing Note", "datePublished": "2026-10-09T15:50:05Z", "dateModified": "2026-10-09T15:50:05Z", "format": "application/pdf" }, { "id": "OCT566430-4", "title": "Appendix D Monitoring Report", "datePublished": "2026-10-09T15:50:05Z", "dateModified": "2026-10-09T15:50:05Z", "format": "application/pdf" }, { "id": "OCT566430-5", "title": "Terms and Conditions for Services", "datePublished": "2026-10-09T15:50:05Z", "dateModified": "2026-10-09T15:50:05Z", "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document" }, { "id": "OCT566430-6", "title": "Appendix E REIP", "datePublished": "2026-10-09T15:50:06Z", "dateModified": "2026-10-09T15:50:06Z", "format": "application/pdf" }, { "id": "OCT566430-7", "title": "Invitation to Tender Doc", "datePublished": "2026-10-09T15:50:06Z", "dateModified": "2026-10-09T15:50:06Z", "format": "application/vnd.openxmlformats-officedocument.wordprocessingml.document" } ], "lots": [ { "id": "1", "description": "The Bank is seeking proposals from suitably qualified and authorised investment management firms to establish and manage a 15 million GBP segregated investment mandate for the delivery of the Scottish Universities Ignition Strategy (\"the Mandate\"). The successful bidder will be expected to establish and operate an appropriate investment vehicle through which the Mandate will be delivered, with the Bank acting as the sole investor. The Mandate forms one of two complementary investment strategies within the Scottish Universities Fund (\"SUF\"), a broader investment platform designed to support the creation, growth and long-term scaling of university-originated companies in Scotland. The purpose of this Invitation to Tender (ITT) is to appoint an investment manager with delegated discretion to manage the Mandate in accordance with an agreed Investment Management Contract and the requirements set out in this ITT.", "status": "active", "value": { "amount": 6500000, "currency": "GBP" }, "awardCriteria": { "criteria": [ { "type": "quality", "name": "Quality", "description": "80%" }, { "type": "price", "description": "20%" } ] }, "hasOptions": false, "submissionTerms": { "variantPolicy": "notAllowed" }, "contractPeriod": { "durationInDays": 3600 }, "hasRenewal": true, "renewal": { "description": "2 x 12 month extension periods" } } ], "bidOpening": { "date": "2026-11-10T12:00:00Z" }, "contractTerms": { "hasElectronicPayment": true, "hasElectronicOrdering": true, "electronicInvoicingPolicy": "allowed", "performanceTerms": "As provided within the ITT Document." }, "coveredBy": [ "GPA" ], "otherRequirements": { "requiresStaffNamesAndQualifications": true }, "selectionCriteria": { "criteria": [ { "type": "suitability", "description": "Suitability - Authorisation or Membership Please complete \"Suitability - Authorisation or Membership\" question within the SPD module of PCS: Question 4A.2A - Bidders are required in country of establishment to hold an authorisation of the FCA and all required FCA permissions to perform the services. Pass = The Tenderer has provided confirmation that it will provide evidence of holding an authorisation of the FCA and all required FCA permissions to perform the services when requested by the Purchaser. Fail = The Tenderer has not provided confirmation .that it will provide evidence of holding an authorisation of the FCA and all required FCA permissions to perform the services when requested by the Purchaser." }, { "type": "economic", "description": "Please complete \"Insurance Requirements\" on the online SPD and submit on PCS. It is a requirement that all Tenderers must have or commit to have the required insurance levels at commencement of the Agreement as indicated below. Question 4B.5.a Professional Risk Indemnity - 10m GBP Question 4B.5.b Employers Liability - 10m GBP Question 4B.5.c Other Insurances: Product and Public Liability - 5m GBP A copy of the Insurance Certificate or Brokers Letter must be provided prior to award to demonstrate that the Insurance requirements can be met. Please confirm that you can meet this requirement and that this information shall be provided when requested, prior to award. Other Economic or Financial Requirements - Financial Accounts Question 4B.6 - The successful Tenderer will be required to provide two years of audited accounts or equivalent prior to award to the Contract. If you are unable to provide the required accounting information - e.g. a new business without the required accounts, please provide a banker's letter demonstrating their willingness to support your organisation over the term of the Contract. The Bank shall assess the financial accounts or banker's letter submitted. It may seek further clarity if necessary and use all financial information submitted to ensure that the Tenderer has satisfactory economic and financial standing to meet the contract requirements. If analysis of a Tenderer's financial position determines that additional measures are necessary to provide adequate assurance of the Tenderer's financial strength to the Bank that Tenderer may be required to provide additional guarantees. If such additional measures are not suitable or cannot be provided by the Tenderer, then the Bank reserves the right to disqualify the Tenderer.", "minimum": "QUESTION 4B5: All Insurance requirements are minimum standards and are mandatory. A fail will result in elimination of the procurement exercise. Pass = The Tenderer has the relevant Insurance in place with evidence of an Insurance Certificate or the Tenderer has committed to obtaining the required insurance with evidence of a brokers letter. Fail = The Tenderer does not have the relevant insurance requirements in place and cannot commit to obtaining the relevant insurance OR the Tenderer has stated they have the relevant insurance in place or can obtain it but is unable to provide evidence to demonstrate this. QUESTION 4B.6 Other Economic or Financial Requirements - Financial Accounts: Pass = The Tenderer has provided all financial accounts or banker's letter and/or supporting information requirements as requested by the Bank and has demonstrated satisfactory economic and financial standing. Fail = The Tenderer has not provided the required financial accounts or banker's letter and/or supporting information as requested by the Bank or has provided the information but has not demonstrated satisfactory economic and financial standing." }, { "type": "technical", "description": "Question 4C.1.2 of SPD: Bidders are required to provide a fully attributable performance track record for funds and strategies comparable to the services described within the specification of requirements of this ITT. Track record information should be presented on both a gross and net basis and include, as a minimum, TVPI, DPI, IRR, and MOIC, in a clear, tabulated format to enable comparability across submissions. In addition to quantitative track record data, bidders are required to provide two representative case studies that demonstrate their approach to sourcing, underwriting, and scaling early-stage, innovation-led companies. Case studies should be comparable in stage and nature to the Mandate and should clearly set out the bidder's role and attribution, investment thesis, key risks, value creation approach and outcomes achieved.", "minimum": "Pass = The Tenderer has provided an attributable track record with TVPI, DPI, IRR, and MOIC (gross and net) in a clear table; and two relevant case studies on early-stage, innovation-led investments comparable to the Mandate. Fail = The Tenderer has not provided an attributable track record, or it is unclear or lacks required metrics; and fewer than two relevant case studies have been provided, This includes where the submission has insufficient evidence to assess experience against." } ] }, "submissionTerms": { "languages": [ "en" ], "bidValidityPeriod": { "durationInDays": 90 } }, "classification": { "id": "66100000", "scheme": "CPV" }, "hasRecurrence": false, "legalBasis": { "id": "32014L0024", "scheme": "CELEX" } }, "language": "EN", "description": "Economic operators may be excluded from this competition if they are in any of the situations referred to in regulation 58 of the Public Contracts (Scotland) Regulations 2015. Within the SPD, Tenderers should respond \"yes\" where they have been the subject of any enforcement action, restriction or other sanction or intervention by the Financial Conduct Authority or any other regulator and then provide an explanation in response to questions 3D10.1 to 3D10.4 NOTE: To register your interest in this notice and obtain any additional information please visit the Public Contracts Scotland Web Site at http://www.publiccontractsscotland.gov.uk/Search/Search_Switch.aspx?ID=840049. The buyer has indicated that it will accept electronic responses to this notice via the Postbox facility. A user guide is available at http://www.publiccontractsscotland.gov.uk/sitehelp/help_guides.aspx. Suppliers are advised to allow adequate time for uploading documents and to dispatch the electronic response well in advance of the closing time to avoid any last minute problems. The Contracting Authority does not intend to include a sub-contract clause as part of community benefits (as per Section 25 of the Procurement Reform (Scotland) Act 2014) in this contract for the following reason: The Contracting Authority does not intend to include a sub-contract clause as part of community benefits (as per Section 25 of the Procurement Reform (Scotland) Act 2014) in this contract for the following reason: Sub-Contracting is not a significant part of the overall anticipated contract spend. Community benefits are included in this requirement. For more information see: https://www.gov.scot/policies/public-sector-procurement/community-benefits-in-procurement/ A summary of the expected community benefits has been provided as follows: Provision of skills and training opportunities - details of mentorship opportunities, apprenticeships, and structured learning pathways that could be offered as a result of this Contract. (SC Ref:840049) Download the copy of the online SPD document here (to be completed online through postbox submission): https://www.publiccontractsscotland.gov.uk/ESPD/ESPD_Download.aspx?id=840049", "links": [ { "rel": "canonical", "href": "https://api.publiccontractsscotland.gov.uk/v1/Notice?id=ocds-r6ebe6-0000840049" } ] }