This notice is for prior information only
Legal Basis:
Directive 2014/24/EU
Section I: Contracting authority
I.3)CommunicationAdditional information can be obtained from the abovementioned address
I.4)Type of the contracting authorityMinistry or any other national or federal authority, including their regional or local subdivisions
I.5)Main activityEducation
Section II: Object
II.1)Scope of the procurement
II.1.1)Title:
Early Years Fund Manager.
II.1.2)Main CPV code66000000 Financial and insurance services
II.1.3)Type of contractServices
II.1.4)Short description:
This Prior Information Notice (PIN) is intended to inform the market of a prospective opportunity relating to the establishment of a funding vehicle designed to increase the provision of early years places in England, focusing on those private and voluntary providers who will deliver the 30 hours extended entitlement (coming into effect September 2017). By increasing the availability of 30 hour places, the Fund aims to create a work incentive for families with young children. Alongside the work incentive, the funding vehicle will focus on providers who are able to demonstrate social impact, directly through the provision of their childcare services and/or through provision of additional services in the wider community.
It is anticipated that the loan investments made to providers will be used for working capital (including operating costs); traditional capital builds (including new builds, expansions and refurbishments) and maintenance and infrastructure improvement projects.
II.1.5)Estimated total value
II.1.6)Information about lotsThis contract is divided into lots: no
II.2)Description
II.2.2)Additional CPV code(s)66100000 Banking and investment services
66120000 Investment banking services and related services
II.2.3)Place of performanceNUTS code: UK UNITED KINGDOM
Main site or place of performance:
II.2.4)Description of the procurement:
DfE intends to appoint a supplier which will (a) establish the funding vehicle; and (b) establish a General Partner to act in such a capacity for the fund — managing, raising investment for and administering the fund (directly or via its appointed Fund Manager). The General Partner (or its appointed Fund Manager) will also be responsible for establishing a grant facility (c. 2 000 000 GBP provided by DfE) to support providers accessing the fund. DfE's initial investment to the Fund is anticipated to be in the region of 10 000 000 GBP and the Fund Manager will seek to attract further investment (approx. 20 000 000 GBP) from commercial and social investors creating a larger pot for distribution (as loans) directly to providers.
At this stage, the DfE is not limiting the format for the grant requirement but the preferred option is that the Fund Manager will be responsible for procuring a panel of approved advisors to deliver support to successful applicants.
II.2.14)Additional information
The initial term of the General Partner's (and Fund Manager's) role is anticipated to be 8 years subject to 1 or 2 extensions of up to 1 year. Please note these are indicative contract lengths only. We expect prospective suppliers to propose a management fee which reflects the changing responsibilities of the Fund Manager across the length of the contract.
II.3)Estimated date of publication of contract notice:31/08/2016
Section IV: Procedure
IV.1)Description
IV.1.8)Information about the Government Procurement Agreement (GPA)The procurement is covered by the Government Procurement Agreement: yes
Section VI: Complementary information
VI.3)Additional information:
DfE intends to hold a Supplier Engagement Event on 28.7.2016 in London. The event will provide further information on the proposed project, procurement process and timetable. Interested parties must pre-register to attend this Supplier Engagement Event by emailing: earlyyears.FUND@education.gsi.gov.uk by Friday 22.7.2016 giving attendees' names (no more than 2 per organisation) and the organisation name, and DfE will be in touch to confirm event logistic arrangements. Interested parties are encouraged to pre-register at the earliest opportunity as places are limited. Interested parties who register their interest but are unable to attend the event will be given access to copies of the same materials as those attending.
See Contracts Finder — https://www.contractsfinder.service.gov.uk/Notice/73f09c31-6482-40db-ae59-62c9e2126390 for a full description of the advert and further information.
VI.5)Date of dispatch of this notice:07/07/2016
