Services - 247217-2019

28/05/2019    S102

United Kingdom-Leeds: Pension fund management services

2019/S 102-247217

Prior information notice

This notice is for prior information only

Services

Legal Basis:
Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses
Official name: Border to Coast Pensions Partnership Ltd
National registration number: N/A
Postal address: 5th Floor, Toronto Square, Toronto Street
Town: Leeds
NUTS code: UK UNITED KINGDOM
Postal code: LS1 2HJ
Country: United Kingdom
E-mail: procurement@bordertocoast.org.uk
Telephone: +44 1134872550
Internet address(es):
Main address: https://www.bordertocoast.org.uk/
Address of the buyer profile: https://www.bordertocoast.org.uk/
I.3)Communication
Additional information can be obtained from the abovementioned address
I.4)Type of the contracting authority
Body governed by public law
I.5)Main activity
Economic and financial affairs

Section II: Object

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

Procurement for Investment Management services for a Multi-Asset Credit Mandate

Reference number: DN412210
II.1.2)Main CPV code
66141000 Pension fund management services
II.1.3)Type of contract
Services
II.1.4)Short description:

Procurement for investment management services for a multi-asset credit mandate.

II.1.5)Estimated total value
II.1.6)Information about lots
This contract is divided into lots: no
II.2)Description
II.2.2)Additional CPV code(s)
66131100 Pension investment services
II.2.3)Place of performance
NUTS code: UK UNITED KINGDOM
II.2.4)Description of the procurement:

Following the launch of our UK Equity Alpha Fund in Q4 2018 and forthcoming Global Equity Alpha Fund in Q3 2019, Border to Coast will soon begin the manager selection process for our forthcoming fixed income funds. We will be focussing on UK Investment Grade Credit and global Multi-Asset Credit, which are expected to launch in Q4 2019 and H1 2020 respectively. The funds are each expected to have assets under management of 2 000 000 000-3 000 000 000 GBP at launch.

This prior information notice relates specifically to investment management services for the multi-asset credit fund, where we have been working closely with our LGPS Partner Funds to ensure the structure, risk and return objectives best meet their needs.

For multi-asset credit we intend to employ a core-satellite approach. Consequently, we are seeking specialists in specific credit market sub asset classes such as high yield bonds, leveraged loans, emerging market debt and asset-backed securities for individual asset class mandates. We are expecting to run a 2-stage procurement for multi-asset credit, with a core manager appointed first followed by the specialist managers at a later stage.

Border to coast will hold a fixed income manager day on 17.6.2019 to provide further detail on both mandates.

We will be covering:

— an update on border to coast,

— the proposed structure of the investment grade credit sub-fund,

— the proposed structure of the multi-asset credit sub-fund,

— details on our approach to selection and working with external manager partners,

— Q&A.

Please note that the manager day will be focused entirely on fixed income and thus we would only encourage those interested in submitting a mandate for either fund to attend. We will not be discussing equities or private markets. If you wish to submit your interest for the manager day, please contact Border to Coast on events@bordertocoast.org.uk

Please include [Fixed Income] in the subject line.

II.2.14)Additional information
II.3)Estimated date of publication of contract notice:
31/12/2019

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: no

Section VI: Complementary information

VI.3)Additional information:
VI.5)Date of dispatch of this notice:
23/05/2019