Contract notice
Section I: Contracting
authority
I.1) Name and addresses
Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR0 2NA
UK
Telephone: +44 8456002541
E-mail: claire.lefort@ppf.co.uk
NUTS: UKI62
Internet address(es)
Main address: https://ppf.bravosolution.co.uk/
I.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge at:
https://ppf.bravosolution.co.uk/
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be sent electronically to:
https://ppf.bravosolution.co.uk/
Tenders or requests to participate must be sent to 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
Order management, portfolio monitoring and risk analytics system
Reference number: CS0723
II.1.2) Main CPV code
48441000
II.1.3) Type of contract
Supplies
II.1.4) Short description
The Board of the Pension Protection Fund (PPF) is going out to tender, in accordance with the Public Contracts Regulations 2015 under the Competitive Procedure with Negotiation, to deliver the following systems which have been split into two lots. Bidders may opt to bid for one or both lots:
Lot 1
• Order management system;
• Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI).
Lot 2
• Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
If you are interested in participating in the competition for this requirement, please complete the Standard Questionnaire (SQ) linked to this notice by the SQ return date.
Full details of the requirements and how to respond are available in the Information and Guidance document which can be found at:
https://ppf.bravosolution.co.uk
II.1.5) Estimated total value
Value excluding VAT:
55 000 000.00
GBP
II.1.6) Information about lots
This contract is divided into lots:
Yes
Tenders may be submitted for all lots
Maximum number of lots that may be awarded to one tenderer: 2
II.2) Description
Lot No: 1
II.2.1) Title
Lot 1 - Order management system, Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI).
II.2.2) Additional CPV code(s)
48000000
48441000
66151000
72212411
II.2.3) Place of performance
NUTS code:
UKI62
II.2.4) Description of the procurement
Lot 1 - Order management system, Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI).
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:
55 000 000.00
GBP
II.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Start:
01/04/2026
End:
31/03/2031
This contract is subject to renewal: Yes
Description of renewals:
The contracts for both Lots 1 and 2 will be for an initial term of 5 years with optional extensions to take the maximum possible term to 10 years.
II.2.9) Information about the limits on the number of candidates to be invited
Envisaged number of candidates: 3
Objective criteria for choosing the limited number of candidates:
See tender documents available at https://ppf.bravosolution.co.uk/
II.2.10) Information about variants
Variants will be accepted:
No
II.2.11) Information about options
Options:
No
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
The total estimated contract value for the purposes of the notice has been calculated as a range between £43m and £55m across Lots 1 and 2 over the maximum contract term of 10 years.
Lot No: 2
II.2.1) Title
Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
II.2.2) Additional CPV code(s)
48441000
II.2.3) Place of performance
NUTS code:
UKI62
II.2.4) Description of the procurement
Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
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:
55 000 000.00
GBP
II.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Start:
01/04/2026
End:
31/03/2031
This contract is subject to renewal: Yes
Description of renewals:
The contracts for both Lots 1 and 2 will be for an initial term of 5 years with optional extensions to take the maximum possible term to 10 years.
II.2.9) Information about the limits on the number of candidates to be invited
Envisaged number of candidates: 3
Objective criteria for choosing the limited number of candidates:
As stated in the tender documents available at https://ppf.bravosolution.co.uk/
II.2.10) Information about variants
Variants will be accepted:
No
II.2.11) Information about options
Options:
No
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
The total estimated contract value for the purposes of the notice has been calculated as a range between £43m and £55m across Lots 1 and 2 over the maximum contract term of 10 years.
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
List and brief description of conditions:
Stated in the tender documents available to download here https://ppf.bravosolution.co.uk/
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.2) Conditions related to the contract
III.2.2) Contract performance conditions
Stated in the tender documents available to download here https://ppf.bravosolution.co.uk/
Section IV: Procedure
IV.1) Description
IV.1.1) Type of procedure
Competitive procedure with negotiation
IV.1.4) Information about reduction of the number of solutions or tenders during negotiation or dialogue
Recourse to staged procedure to gradually reduce the number of solutions to be discussed or tenders to be negotiated
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.1.8) 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:
2024/S 000-024563
IV.2.2) Time limit for receipt of tenders or requests to participate
Date:
13/02/2025
Local time: 12:00
IV.2.3) Estimated date of dispatch of invitations to tender or to participate to selected candidates
Date:
13/02/2025
IV.2.4) Languages in which tenders or requests to participate may be submitted
EN
IV.2.6) Minimum time frame during which the tenderer must maintain the tender
Duration in months: 6 (from the date stated for receipt of tender)
Section VI: Complementary information
VI.1) Information about recurrence
This is a recurrent procurement:
No
VI.2) Information about electronic workflows
Electronic invoicing will be accepted
Electronic payment will be used
VI.3) Additional information
The Board of the Pension Protection Fund is tendering for an Order management, portfolio monitoring and risk analytics system.
The requirement has been split into two lots, Bidders may opt to bid for one or both lots:
Lot 1 - Order management system, Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI).
Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
Full details of the PPF's requirements are set out in the procurement documents
Please visit our tendering portal to access the procurement documents. You will need to create an account on the PPF tendering portal if you have not used it before.
Closing date for SQ responses - 13 February 2025
Closing date for ITT responses - 21 March 2025
Any changes to these dates will be communicated via the eSourcing portal to all Bidders.
The total estimated contract value for the purposes of the notice has been calculated as a range between £43m and £55m across Lots 1 and 2 over the maximum contract term of 10 years. The PPF is evolving within a changing market, and future needs for additional investment management modules is possible. These developments will align with market changes and the Board’s strategy, potentially requiring new software and licenses. This may lead to price revisions and increased fees over the contract’s duration, though the extent of these additional services is not guaranteed. In the event there was a significant increase to the number of schemes PPF takes on then this would require an amendment to the contract value. However, this known, unknown value cannot be predicted at this stage.
VI.4) Procedures for review
VI.4.1) Review body
The Board of the Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR20 2NA
UK
E-mail: commercialservices@ppf.co.uk
VI.4.2) Body responsible for mediation procedures
The Board of the Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR20 2NA
UK
E-mail: commercialservices@ppf.co.uk
VI.4.3) Review procedure
Precise information on deadline(s) for review procedures:
The Board of the Pension Protection Fund
VI.4.4) Service from which information about the review procedure may be obtained
The Board of the Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR20 2NA
UK
E-mail: commercialservices@ppf.co.uk
VI.5) Date of dispatch of this notice
13/01/2025