Services - 113081-2018

14/03/2018    S51

United Kingdom-London: Trust and custody services

2018/S 051-113081

Contract notice

Services

Legal Basis:
Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses
Official name: London LGPS CIV Ltd
Postal address: 59½ Southwark Street
Town: London
NUTS code: UK UNITED KINGDOM
Postal code: SE1 0AL
Country: United Kingdom
Contact person: Mr Brian Lee
E-mail: brian.lee@londonciv.org.uk
Telephone: +44 2079349973

Internet address(es):

Main address: https://londonciv.org.uk/

Address of the buyer profile: https://londonciv.org.uk/

I.2)Information about joint procurement
The contract is awarded by a central purchasing body
I.3)Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at: https://procontract.due-north.com/Advert/Index?advertId=5ba5d720-fa25-e811-80eb-005056b64545
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be submitted electronically via: https://procontract.due-north.com/Advert/Index?advertId=5ba5d720-fa25-e811-80eb-005056b64545
I.4)Type of the contracting authority
Body governed by public law
I.5)Main activity
Other activity: Financial

Section II: Object

II.1)Scope of the procurement
II.1.1)Title:

London CIV AIF Asset Servicer, Global Custodian and Depositary

Reference number: DN328243
II.1.2)Main CPV code
66160000 Trust and custody services
II.1.3)Type of contract
Services
II.1.4)Short description:

London CIV was authorised as an Alternative Investment Fund Manager (AIFM) and currently has 6 500 000 000 GBP of assets under management. London CIV’s scope of regulatory permissions have been expanded to operate unauthorised Alternative Investment Funds (AIFs). Work is underway to expand the current fund offering to include alternative investments. In support of these strategic objectives, London CIV is seeking to appoint an administrator, global custodian and depositary to support further investments in alternative assets.

II.1.5)Estimated total value
Value excluding VAT: 2 700 000.00 GBP
II.1.6)Information about lots
This contract is divided into lots: no
II.2)Description
II.2.1)Title:
II.2.2)Additional CPV code(s)
66170000 Financial consultancy, financial transaction processing and clearing-house services
II.2.3)Place of performance
NUTS code: UK UNITED KINGDOM
II.2.4)Description of the procurement:

London LGPS CIV Limited (“London CIV” or “LCIV”) is a Local Government Pension Scheme (LGPS) pool responsible for pooling the investments of 32 London Local Authority (LLAs) pension funds, formed to significantly reduce costs while delivering enhanced overall investment performance. The strategic objectives of LCIV are to deliver cost savings, provide a broader range of investment opportunities, provide transparency and improved investment outcomes. With over 35 000 000 000 GBP of assets across the 32 LLAs there is significant scope for such savings and efficiencies.

London CIV was authorised as an Alternative Investment Fund Manager (AIFM) and currently has 6 500 000 000 GBP of assets under management. London CIV’s scope of regulatory permissions have been expanded to operate unauthorised Alternative Investment Funds (AIFs). Work is underway to expand the current fund offering to include alternative investments. In support of these strategic objectives, London CIV is seeking to appoint an administrator, global custodian and depositary to support further investments in alternative assets.

AIF Administrator.

Details of the services should cover the following elements:

— transfer agency – administer the subscription, redemptions, distributions and switches,

— investor reporting – contract notes, confirmation, valuation statements,

— accounting – daily, weekly, monthly or quarterly NAV production, to be determined by fund..

Global Custodian.

Details of the services should cover the following elements:

— global custody — global safe custody of segregated assets, asset administration and cash management if required.

Depositary.

Details of the services should cover the following elements:

— safekeeping of assets,

— cash monitoring,

— oversight.

II.2.5)Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
II.2.6)Estimated value
Value excluding VAT: 2 700 000.00 GBP
II.2.7)Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 60
This contract is subject to renewal: yes
Description of renewals:

LCIV can take an option to extend the contract by 2 years subject to satisfactory performance.

II.2.9)Information about the limits on the number of candidates to be invited
Maximum number: 3
Objective criteria for choosing the limited number of candidates:

Envisaged number of candidates:

Up to 3 to be invited to submit Invitations to Participate in Negotiation and up to 3 to be invited to submit Invitations to Submit Final Tenders. LCIV reserves the right to take forward more than 3 candidates at both stages.

Following the selection of up to 3 bidders to participate in dialogue, no further reduction during negotiation or dialogue will take place.

II.2.10)Information about variants
Variants will be accepted: no
II.2.11)Information about options
Options: no
II.2.12)Information about electronic catalogues
II.2.13)Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds: no
II.2.14)Additional information

Section III: Legal, economic, financial and technical information

III.1)Conditions for participation
III.1.1)Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers
III.1.2)Economic and financial standing
Selection criteria as stated in the procurement documents
III.1.3)Technical and professional ability
Selection criteria as stated in the procurement documents
III.1.5)Information about reserved contracts
III.2)Conditions related to the contract
III.2.1)Information about a particular profession
III.2.2)Contract performance conditions:

Information and formalities necessary for evaluating if the requirements are met:

Potential service providers will be assessed on the basis of information provided in response to an Invitation to Participate in Dialogue.

III.2.3)Information about staff responsible for the performance of the contract

Section IV: Procedure

IV.1)Description
IV.1.1)Type of procedure
Competitive procedure with negotiation
IV.1.3)Information about a framework agreement or a dynamic purchasing system
IV.1.4)Information about reduction of the number of solutions or tenders during negotiation or dialogue
IV.1.5)Information about negotiation
The contracting authority reserves the right to award the contract on the basis of the initial tenders without conducting negotiations
IV.1.6)Information about electronic auction
IV.1.8)Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: no
IV.2)Administrative information
IV.2.1)Previous publication concerning this procedure
IV.2.2)Time limit for receipt of tenders or requests to participate
Date: 06/04/2018
Local time: 12:00
IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates
Date: 12/04/2018
IV.2.4)Languages in which tenders or requests to participate may be submitted:
English
IV.2.6)Minimum time frame during which the tenderer must maintain the tender
IV.2.7)Conditions for opening of tenders

Section VI: Complementary information

VI.1)Information about recurrence
This is a recurrent procurement: yes
Estimated timing for further notices to be published:

Estimated timing for further notices to be published: subject to political, organisational and funding at the time it is envisaged to have a similar arrangement in place for 2023 at the latest subject to the use of extension clause.

VI.2)Information about electronic workflows
Electronic invoicing will be accepted
Electronic payment will be used
VI.3)Additional information:
VI.4)Procedures for review
VI.4.1)Review body
Official name: London LGPS CIV Ltd
Postal address: 59½ Southwark Street
Town: London
Postal code: SE1 0AL
Country: United Kingdom

Internet address: https://londonciv.org.uk/

VI.4.2)Body responsible for mediation procedures
VI.4.3)Review procedure
VI.4.4)Service from which information about the review procedure may be obtained
VI.5)Date of dispatch of this notice:
12/03/2018