Contract award notice
Results of the procurement procedure
Section I: Contracting
entity
I.1) Name and addresses
London LGPS
4th Floor, 22 Lavington Street
London
SE1 0NZ
UK
Contact person: Modely Rungen
Telephone: +44 2080369000
E-mail: modely.rungen@londonciv.org.uk
NUTS: UK
Internet address(es)
Main address: https://londonciv.org.uk/
I.2) Joint procurement
The contract is awarded by a central purchasing body
I.4) Type of the contracting authority
Body governed by public law
I.5) Main activity
General public services
Section II: Object
II.1) Scope of the procurement
II.1.1) Title
Audit Services to LCIV and FCA Authorised Firm and Funds Managed by It
II.1.2) Main CPV code
79000000
II.1.3) Type of contract
Services
II.1.4) Short description
London LGPS CIV Ltd (‘London CIV’ or ‘LCIV’) is a Local Government Pension Scheme (LGPS) pool responsible for pooling the investments of 32 London Local Authority (LLAs) pension funds, formed to significantly reduce costs while delivering enhanced overall investment performance. The strategic objectives of LCIV are to deliver cost savings, provide a broader range of investment opportunities, provide transparency and providing improved investment outcomes.
London CIV was authorised as an Alternative Investment Fund Manager (AIFM) and had 8 700 000 000 GBP of assets under management as of 31.5.2019. London CIV’s scope of regulatory permissions have been expanded to operate unauthorised Alternative Investment Funds (AIFs). Work is underway to expand the current fund offering to include alternative investments. In support of these strategic objectives, London CIV is seeking to appoint an independent auditor.
II.1.6) Information about lots
This contract is divided into lots:
No
II.1.7) Total value of the procurement
Value excluding VAT:
892 752.00
GBP
II.2) Description
II.2.2) Additional CPV code(s)
79212300
II.2.3) Place of performance
NUTS code:
UKI
Main site or place of performance:
London.
II.2.4) Description of the procurement
Specific audit services required will include, but will not be limited to:
— planning, management and providing an audit opinion on each annual report and financial statements prepared in accordance with United Kingdom Generally Accepted Accounting Practice and the Companies Act 2006, Investment Association SORP or other applicable financial reporting and regulatory framework,
— reporting to management, the Compliance, Audit and Risk (CARCO) Committee and the Board including attendance at meetings as appropriate,
— CASS assurance work, we do not currently hold any client money or assets so this is negative assurance, but this could change in the future,
— rates clearances on fund audits prior to year-end distribution payment.
The contract will be for 5 years with a break clause at year 3. The successful bidder will be expected to demonstrate that they can provide high quality statutory independent audit services.
II.2.5) Award criteria
Price
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
N/A
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:
No
IV.2) Administrative information
IV.2.1) Previous publication concerning this procedure
Notice number in the OJ S:
2019/S 139-342554
Section V: Award of contract
Title: London LGPS
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
02/12/2019
V.2.2) Information about tenders
Number of tenders received: 2
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
Deloitte
London
UK
NUTS: UKI
The contractor is an SME:
No
V.2.4) Information on value of the contract/lot (excluding VAT)
Total value of the contract/lot:
: 892 572.00
GBP
V.2.5) Information about subcontracting
Section VI: Complementary information
VI.4) Procedures for review
VI.4.1) Review body
Royal Courts of Justice
London
UK
VI.4.2) Body responsible for mediation procedures
London LGPS CIV Ltd
4th Floor, 22 Lavington Street
London
SE1 0NZ
UK
VI.4.3) Review procedure
Precise information on deadline(s) for review procedures:
OJEU procedures include a minimum 10 calendar day standstill period at the point information on the award of the contract is communicated to bidders. This period allows unsuccessful bidders to seek further debriefing from the contracting authority before the contract is entered into. If an appeal regarding the award of a contract has not been successfully resolved the Public Contracts Regulations 2015 provide for aggrieved parties who have been harmed or are at risk of harm by a breach of the rules to take action in the High Court (England, Wales and Northern Ireland). Any such action must be brought promptly.
VI.4.4) Service from which information about the review procedure may be obtained
Royal Courts of Justice
London
WC1A 2LL
UK
VI.5) Date of dispatch of this notice
20/01/2020