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Notice Details

Title: SME Housing Fund – Procurement of a Fund Manager
Published by: Cardiff Council
Publication Date: 28/05/2020
Deadline Date:
Deadline Time:
Notice Type: 01 Prior Information Notice (PIN)
Has Documents: Yes
Has ESPD: No
Abstract: Cardiff Capital Region (CCR) is looking to establish a 10 million GBP housing investment fund for the benefit of SME developers (developers operating in the order of c.100 units) in the South East Wales region (the Fund). Cardiff Council is seeking to procure a FCA accredited fund manager / advisor on behalf of CCR to provide certain services and to manage the capital allocated under the Fund (the Opportunity).
The purpose of this PIN is to obtain market feedback on Cardiff Council's proposals for the Opportunity and the procurement strategy. In particular, Cardiff Council wants to understand the market's appetite to participate in a procurement process for the Opportunity and its ability to mobilise and commit resources to participate in such process.
CCR has issued a Market Engagement Briefing Paper alongside this PIN which outlines the Fund and the Opportunity and a number of key questions on which CCR would like written feedback from the market by no later than 17:00 on 8 July 2020.
CPV: 66171000, 66100000, 66120000, 66122000, 66110000, 66113000, 66190000, 66140000, 66170000, 79412000.

Prior information notice

This notice is for prior information only

Directive 2014/24/EU - Public Sector Directive

Directive 2014/24/EU

Section I: Contracting authority

I.1) Name and addresses

Cardiff Council

County Hall, Atlantic Wharf

Cardiff

CF10 4UW

UK

Telephone: +44 07967793358

E-mail: lucywilliams@cardiff.gov.uk

NUTS: UKL22

Internet address(es)

Main address: www.cardiff.gov.uk

Address of the buyer profile: https://www.sell2wales.gov.wales/search/Search_AuthProfile.aspx?ID=AA0422

I.1) Name and addresses

Blaenau Gwent County Borough Council

Municipal Offices, Civic Centre

Ebbw Vale

NP23 6XB

UK

E-mail: lucywilliams@cardiff.gov.uk

NUTS: UKL16

Internet address(es)

Main address: http://www.blaenau-gwent.gov.uk/

Address of the buyer profile: https://www.sell2wales.gov.wales/search/Search_AuthProfile.aspx?ID=AA0278

I.1) Name and addresses

Bridgend County Borough Council

Bridgend County Borough Council, Procurement Unit, Civic Offices, Angel Street

Bridgend

CF31 4WB

UK

E-mail: lucywilliams@cardiff.gov.uk

NUTS: UKL17

Internet address(es)

Main address: www.bridgend.gov.uk

Address of the buyer profile: https://www.sell2wales.gov.wales/search/Search_AuthProfile.aspx?ID=AA0417

I.1) Name and addresses

Caerphilly County Borough Council

Penallta House, Tredomen Park, Ystrad Mynach

Hengoed

CF82 7PG

UK

E-mail: lucywilliams@cardiff.gov.uk

Fax: +44 1443863167

NUTS: UKL16

Internet address(es)

Main address: www.caerphilly.gov.uk

Address of the buyer profile: https://www.sell2wales.gov.wales/search/Search_AuthProfile.aspx?ID=AA0272

I.1) Name and addresses

Merthyr Tydfil County Borough Council

Unit 5,, Triangle Business Park, Pentrebach

Merthyr Tydfil

CF48 4TQ

UK

E-mail: lucywilliams@cardiff.gov.uk

NUTS: UKL15

Internet address(es)

Main address: http://www.merthyr.gov.uk

Address of the buyer profile: https://www.sell2wales.gov.wales/search/Search_AuthProfile.aspx?ID=AA0347

I.1) Name and addresses

Monmouthshire County Council

PO Box 106

Caldicot

NP26 9AN

UK

E-mail: lucywilliams@cardiff.gov.uk

NUTS: UKL21

Internet address(es)

Main address: http://www.monmouthshire.gov.uk

Address of the buyer profile: https://www.sell2wales.gov.wales/search/Search_AuthProfile.aspx?ID=AA0277

I.1) Name and addresses

Newport City Council

Civic Centre

Newport

NP20 4UR

UK

E-mail: lucywilliams@cardiff.gov.uk

NUTS: UKL21

Internet address(es)

Main address: www.newport.gov.uk

Address of the buyer profile: https://www.sell2wales.gov.wales/search/Search_AuthProfile.aspx?ID=AA0273

I.1) Name and addresses

Rhondda Cynon Taf CBC

The Pavilions, Clydach Vale

Tonypandy

CF40 2XX

UK

E-mail: lucywilliams@cardiff.gov.uk

NUTS: UKL15

Internet address(es)

Main address: http://www.rctcbc.gov.uk/

Address of the buyer profile: https://www.sell2wales.gov.wales/search/Search_AuthProfile.aspx?ID=AA0276

I.1) Name and addresses

Torfaen County Borough Council

Civic Centre, Pontypool

Torfaen

NP4 6YB

UK

E-mail: lucywilliams@cardiff.gov.uk

NUTS: UKL16

Internet address(es)

Main address: www.torfaen.gov.uk

Address of the buyer profile: https://www.sell2wales.gov.wales/search/Search_AuthProfile.aspx?ID=AA0498

I.1) Name and addresses

Vale of Glamorgan Council

Civic Offices, Holton Road

BARRY

CF63 4RU

UK

E-mail: lucywilliams@cardiff.gov.uk

NUTS: UKL22

Internet address(es)

Main address: http://www.valeofglamorgan.gov.uk

Address of the buyer profile: https://www.sell2wales.gov.wales/search/Search_AuthProfile.aspx?ID=AA0275

I.2) Joint procurement

The contract involves joint procurement

I.3) Communication

Additional information can be obtained from the abovementioned address


Electronic communication requires the use of tools and devices that are not generally available. Unrestricted and full direct access to these tools and devices is possible, free of charge, at:

https://supplierlive.proactisp2p.com


I.4) Type of the contracting authority

Regional or local authority

I.5) Main activity

General public services

Section II: Object

II.1) Scope of the procurement

II.1.1) Title

SME Housing Fund – Procurement of a Fund Manager

Reference number: ERFX1006830

II.1.2) Main CPV code

66171000

 

II.1.3) Type of contract

Services

II.1.4) Short description

Cardiff Capital Region (CCR) is looking to establish a 10 million GBP housing investment fund for the benefit of SME developers (developers operating in the order of c.100 units) in the South East Wales region (the Fund). Cardiff Council is seeking to procure a FCA accredited fund manager / advisor on behalf of CCR to provide certain services and to manage the capital allocated under the Fund (the Opportunity).

The purpose of this PIN is to obtain market feedback on Cardiff Council's proposals for the Opportunity and the procurement strategy. In particular, Cardiff Council wants to understand the market's appetite to participate in a procurement process for the Opportunity and its ability to mobilise and commit resources to participate in such process.

CCR has issued a Market Engagement Briefing Paper alongside this PIN which outlines the Fund and the Opportunity and a number of key questions on which CCR would like written feedback from the market by no later than 17:00 on 8 July 2020.

II.1.6) Information about lots

This contract is divided into lots: No

II.2) Description

II.2.2) Additional CPV code(s)

66100000

66120000

66122000

66110000

66113000

66190000

66140000

66170000

79412000

II.2.3) Place of performance

NUTS code:

UK

UKL

UKL22


Main site or place of performance:

Wales

II.2.4) Description of the procurement

Cardiff Capital Region (CCR) City Deal is a 1.1bn GBP economic growth programme which was agreed in 2016 between UK Government, Welsh Government and ten local authorities in South East Wales (the "Region") to bring about significant economic growth in the Region through investment, upskilling, and improved physical and digital connectivity.

The CCR local authorities are: Blaenau Gwent, Bridgend, Caerphilly, Cardiff Council, Merthyr Tydfil, Monmouthshire, Newport, Rhondda Cynon Taf, Torfaen and Vale of Glamorgan.

Work undertaken to date has demonstrated to CCR that a key challenge in the Region's housing market is the requirement for vital financing support for smaller and medium sized developers (developers who are operating in the order of c.100 units or less) ("SME") that play a valuable role in local house-building for relatively small housing schemes that fall outside of the mainstream developers' line of sight.

To address this, CCR is seeking to establish a 10 million investment sub-fund to target the substantial number of SME controlled smaller sites in the Region and provide finance support to SME developers who are unable to proceed with developments due to a lack of available funding support, particularly for the required upfront costs in the delivery cycle (the "SME Housing Fund"). Further details of the SME Housing Fund are included in the Market Engagement Briefing Paper issued alongside this PIN.

CCR is seeking to commission an FCA accredited fund manager / adviser to, amongst other matters, help market the SME Housing Fund, source a pipeline of projects, undertake due diligence on applicants and manage the capital allocated under the SME Housing Fund on CCR's behalf. As CCR is not itself a corporate vehicle, it anticipates that Cardiff Council shall procure and enter into a services contract for fund management services in respect of the SME Housing Fund on behalf of CCR (the "Opportunity"). The duration of the services contract is to be determined.

It is anticipated the fund manager / adviser shall perform the following services: (a) advice upon and finalisation of the investment criteria and strategy for the SME Housing Fund; (b) market and promote the SME Housing Fund to suitable prospective applicants; (c) secure a pipeline of applicants for the SME Housing Fund; (d) review applications received for the SME Housing Fund, conduct due diligence on a applicant's suitability for and alignment to the SME Housing Fund based on the investment criteria/strategy set; (e) make recommendations to CCR's investment board in respect of suitable applicants to the SME Housing Fund; (f) ongoing monitoring, scrutiny and management of investment products provided to successful applicants under the SME Housing Fund; (g) advising CCR's investment board in respect of any potential or actual risks arising in respect of certain investments made under the SME Housing Fund and how these may be best managed/mitigated; and

(h) fulfil the role of a FCA accredited fund manager in respect of the SME Housing Fund.

Cardiff Council envisages the procurement process for the Opportunity will be a restrictive procedure.

Cardiff Council has issued this PIN and the Market Engagement Briefing Paper for the purposes of gaining feedback from the market in relation to the SME Housing Fund and Cardiff Council's proposals for the Opportunity and procurement strategy. This is an exercise of genuine information gathering and CCR/Cardiff Council intends to reflect on any feedback given by the market with a view to refining or recalibrating CCR's/Cardiff Council's proposed approach ahead of launch of the procurement process.

Cardiff Council would therefore be grateful if prospective tenderers for the Project could review the Market Engagement Briefing Paper and provide feedback in writing to Cardiff Council by no later than 17:00 on 8 July 2020 via the Proactis procurement portal available at https://supplierlive.proactisp2p.com using RFX reference ERFX1006830.

II.3) Estimated date of publication of contract notice:

02/10/2020

Section IV: Procedure

IV.1) Description

IV.1.8) Information about Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: Yes

Section VI: Complementary information

VI.3) Additional information

NOTE: To register your interest in this notice and obtain any additional information please visit the Sell2Wales Web Site at http://www.sell2wales.gov.wales/Search/Search_Switch.aspx?ID=101929.

(WA Ref:101929)

VI.5) Date of dispatch of this notice

27/05/2020


Information added to the notice since publication.

Additional information added to the notice since it's publication.
No further information has been uploaded.
Main Contact: lucywilliams@cardiff.gov.uk
Admin Contact: N/a
Technical Contact: N/a
Other Contact: N/a

Commodity Categories

Commodity Categories
IDTitleParent Category
66100000Banking and investment servicesFinancial and insurance services
66110000Banking servicesBanking and investment services
66122000Corporate finance and venture capital servicesInvestment banking services and related services
66113000Credit granting servicesBanking services
66171000Financial consultancy servicesFinancial consultancy, financial transaction processing and clearing-house services
66170000Financial consultancy, financial transaction processing and clearing-house servicesBanking and investment services
79412000Financial management consultancy servicesBusiness and management consultancy services
66120000Investment banking services and related servicesBanking and investment services
66190000Loan brokerage servicesBanking and investment services
66140000Portfolio management servicesBanking and investment services

Delivery Locations

Delivery Locations
IDDescription
1022Cardiff and Vale of Glamorgan

Alert Region Restrictions

The buyer has restricted the alert for this notice to suppliers based in the following regions.

Alert Region Restrictions
There are no alert restrictions for this notice.

Further Instructions

The Buyer has attached further instructions with this notice. Please read these carefully and take the necessary action(s).

Record your interest in this notice and you will be automatically sent clarifications and deadline date changes etc. Please note that recording your interest does not automatically enter you into the tender process for this notice, you still have to submit your response by the deadline stated. To record an interest in this notice and add it to your interests list please click the Record your interest now button at the top of the page.

The following additional documents have been attached to this notice. To obtain these documents please click the Record your interest now button at the top of the page.

The following additional documents have been attached to this notice. To obtain these documents please select the individual file names below.

Current Documents

CreatedNameDescriptionSizeDownloads
28/05/2020SME Housing Fund - Market Engagement Briefing PaperSME Housing Fund Market Engagement Briefing Paper395.72 KB7

Replaced Documents

There are no previous versions of these documents

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