Contract award notice
Results of the procurement procedure
Section I: Contracting
entity
I.1) Name and addresses
SME Wholesale Finance (London) Limited
71–91 Aldwych
London
WC2B 4HN
UK
Contact person: Mr Gary Seed
E-mail: GARYSEED@TFL.GOV.UK
NUTS: UKI
Internet address(es)
Main address: http://fundinglondon.co.uk/
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
Greater London Investment Fund — Supported by European Regional Development Fund — Fund Managers
Reference number: DN328848
II.1.2) Main CPV code
66000000
II.1.3) Type of contract
Services
II.1.4) Short description
SME Wholesale Finance (London) Limited a wholly owned subsidiary of the Greater London Authority and trading as Funding London has awarded contracts (Limited Partnership Agreements; LPA’s) to Fund Manager organisations to manage and invest the capital of a new 100 000 000 GBP Fund of Funds that will be invested in 4 new sub-funds for SME’s who’s core activities are based in London:
— fund 1 (lot 1): a 45 000 000 GBP Early Stage Venture and Circular Economy Fund. (14 000 000 GBP ring-fenced for Circular Economy),
— fund 2 (lot 2): a 25 000 000 GBP Small Loan Fund,
— fund 3 (lot 3): a 25 000 000 GBP Larger Loan Fund,
— fund 4 (lot 4): a 5 000 000 GBP Micro Loan Fund.
The funds are to deliver European Regional Development Fund (ERDF) outputs.
II.1.6) Information about lots
This contract is divided into lots:
Yes
II.1.7) Total value of the procurement
Value excluding VAT:
21 170 000.00
GBP
II.2) Description
Lot No: 1
II.2.1) Title
Early Stage Venture and Circular Economy Fund
II.2.2) Additional CPV code(s)
66122000
66140000
II.2.3) Place of performance
NUTS code:
UKI
Main site or place of performance:
Greater London.
II.2.4) Description of the procurement
The Fund Manager organisation is to manage and invest the capital which is to be committed to a 45 000 000 GBP Early Stage Venture and Circular Economy Fund. This fund will focus on the sectors of strategic importance to the London economy. There will be specific support for early stage SMEs in the circular economy. Of the 45 000 000 GBP, 14 000 000 GBP will be ring-fenced for investments in circular economy businesses.
II.2.5) Award criteria
Quality criterion: Technical (comprising 10 sub-criteria)
/ Weighting: 80
Price
/ Weighting:
20
II.2.11) Information about options
Options:
Yes
Description of options:
The duration of the Fund LPA will be 10 years (the life of the Fund) with an option on behalf of the Authority to extend for a further year. There will be an investment period that will begin on final close of the fund and which will terminate by 31.12.2023. The option to extend may be exercised at any time during the life of the Fund.
II.2.13) Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds:
Yes
Lot No: 2
II.2.1) Title
Smaller Loan Fund (Small Loans Focus)
II.2.2) Additional CPV code(s)
66122000
66140000
66190000
II.2.3) Place of performance
NUTS code:
UKI
Main site or place of performance:
Greater London.
II.2.4) Description of the procurement
The Fund Manager organisation is to manage and invest the capital which is to be committed to a 25 000 000 GBP Loan Fund (small loans 100 000 GBP to 500 000 GBP). This fund will provide loans to enterprises in London seeking debt facilities to expand their business.
II.2.5) Award criteria
Quality criterion: Technical (comprising 10 sub-criteria)
/ Weighting: 80
Price
/ Weighting:
20
II.2.11) Information about options
Options:
Yes
Description of options:
The duration of the Fund LPA will be 10 years (the life of the Fund) with an option on behalf of the Authority to extend for a further year. There will be an investment period that will begin on final close of the fund and which will terminate by 31.12.2023. The option to extend may be exercised at any time during the life of the Fund.
II.2.13) Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds:
Yes
Lot No: 3
II.2.1) Title
Larger Loan Fund (Larger Loans Focus)
II.2.2) Additional CPV code(s)
66122000
66140000
66190000
II.2.3) Place of performance
NUTS code:
UKI
Main site or place of performance:
Greater London.
II.2.4) Description of the procurement
The Fund Manager organisation is to manage and invest the capital which is to be committed to a 25 000 000 GBP Loan Fund (larger loans 500 000 GBP to 1 000 000 GBP). This fund will provide loans to enterprises in London seeking debt facilities to expand their business with larger funding requirements.
II.2.5) Award criteria
Quality criterion: Technical (comprising 10 sub-criteria)
/ Weighting: 80
Price
/ Weighting:
20
II.2.11) Information about options
Options:
Yes
Description of options:
The duration of the Fund LPA will be 10 years (the life of the Fund) with an option on behalf of the Authority to extend for a further year. There will be an investment period that will begin on final close of the fund and which will terminate by 31.12.2023. The option to extend may be exercised at any time during the life of the Fund.
II.2.13) Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds:
Yes
Lot No: 4
II.2.1) Title
Micro Loan Fund
II.2.2) Additional CPV code(s)
66122000
66140000
66190000
II.2.3) Place of performance
NUTS code:
UKI
Main site or place of performance:
Greater London.
II.2.4) Description of the procurement
The Fund Manager organisation is to manage and invest the capital which is to be committed to a 5 000 000 GBP Micro Loan Fund (Micro Loans 10 000 GBP to 100 000 GBP). This fund will focus on micro enterprises, providing loans for new, young or established enterprises.
II.2.5) Award criteria
Quality criterion: Technical (comprising 10 sub-criteria)
/ Weighting: 80
Price
/ Weighting:
20
II.2.11) Information about options
Options:
Yes
Description of options:
The duration of the Fund LPA will be 10 years (the life of the Fund) with an option on behalf of the Authority to extend for a further year. There will be an investment period that will begin on final close of the fund and which will terminate by 31.12.2023. The option to extend may be exercised at any time during the life of the Fund.
II.2.13) Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds:
Yes
Section IV: Procedure
IV.1) Description
IV.1.1) Type of procedure
Open procedure
IV.1.8) Information about Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement:
Yes
IV.2) Administrative information
IV.2.1) Previous publication concerning this procedure
Notice number in the OJ S:
2018/S 060-132659
Section V: Award of contract
Lot No: 1
Contract No: Greater London Investment Fund – supported by European Regional Development Fund – Fund Managers
Title: Early Stage Venture and Circular Economy Fund
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
11/04/2019
V.2.2) Information about tenders
Number of tenders received: 9
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
MMC Ventures Limited
London
UK
NUTS: UKI
The contractor is an SME:
Yes
V.2.4) Information on value of the contract/lot (excluding VAT)
Total value of the contract/lot:
: 11 383 000.00
GBP
V.2.5) Information about subcontracting
Section V: Award of contract
Lot No: 2
Contract No: Greater London Investment Fund – supported by European Regional Development Fund – Fund Managers
Title: Smaller Loan Fund (Small Loans Focus)
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
12/04/2019
V.2.2) Information about tenders
Number of tenders received: 1
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
FSE Fund Managers Ltd
Camberley
UK
NUTS: UKJ
The contractor is an SME:
Yes
V.2.4) Information on value of the contract/lot (excluding VAT)
Total value of the contract/lot:
: 3 681 000.00
GBP
V.2.5) Information about subcontracting
Section V: Award of contract
Lot No: 3
Contract No: Greater London Investment Fund – supported by European Regional Development Fund – Fund Managers
Title: Larger Loan Fund (Larger Loans Focus)
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
12/04/2019
V.2.2) Information about tenders
Number of tenders received: 1
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
FSE Fund Managers Ltd
Camberley
UK
NUTS: UKJ
The contractor is an SME:
Yes
V.2.4) Information on value of the contract/lot (excluding VAT)
Total value of the contract/lot:
: 3 332 000.00
GBP
V.2.5) Information about subcontracting
Section V: Award of contract
Lot No: 4
Contract No: Greater London Investment Fund – supported by European Regional Development Fund – Fund Managers
Title: Micro Loan Fund
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
12/04/2019
V.2.2) Information about tenders
Number of tenders received: 1
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
FSE Fund Managers Ltd
Camberley
UK
NUTS: UKJ
The contractor is an SME:
Yes
V.2.4) Information on value of the contract/lot (excluding VAT)
Total value of the contract/lot:
: 2 774 000.00
GBP
V.2.5) Information about subcontracting
Section VI: Complementary information
VI.4) Procedures for review
VI.4.1) Review body
HM Courts and Tribunal Service
The Strand
London
WC2A 2LL
UK
Telephone: +44 207947000
VI.5) Date of dispatch of this notice
25/04/2019