Contract award notice
Results of the procurement procedure
Section I: Contracting
entity
I.1) Name and addresses
London LGPS CIV Ltd
59 1/2 Southwark St
London
SE1 0AL
UK
Contact person: Lorraine Hendrickson
E-mail: lorraine.hendrickson@londonciv.org.uk
NUTS: UKI
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
Economic and financial affairs
Section II: Object
II.1) Scope of the procurement
II.1.1) Title
Asset Servicer, Global Custodian and Depositary
II.1.2) Main CPV code
66160000
II.1.3) Type of contract
Services
II.1.4) Short description
London CIV was authorised as an Alternative Investment Fund Manager (AIFM) and currently has 6 500 000 000 GBP of assets under management. 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 administrator, global custodian and depositary to support further investments in alternative assets.
II.1.6) Information about lots
This contract is divided into lots:
No
II.1.7) Total value of the procurement
Value excluding VAT:
2 700 000.00
EUR
II.2) Description
II.2.2) Additional CPV code(s)
66160000
II.2.3) Place of performance
NUTS code:
UK
II.2.4) Description of the procurement
London LGPS CIV Limited (“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 ofLCIV are to deliver cost savings, provide a broader range of investment opportunities, provide transparency and improved investment outcomes. With over 35 000 000 000 GBP of assets across the 32 LLAs there is significant scope forsuch savings and efficiencies.
London CIV was authorised as an Alternative Investment Fund Manager (AIFM) and currently has 6 500 000 000 GBPof assets under management. 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 administrator, global custodian and depositary to support further investments in alternative assets.
AIF Administrator
Details of the services should cover the following elements:
— Transfer Agency – administer the subscription, redemptions, distributions and switches
— Investor Reporting – contract notes, confirmation, valuation statements
— Accounting – daily, weekly, monthly or quarterly NAV production, to be determined by fund Global Custodian
Details of the services should cover the following elements:
— Global Custody — global safe custody of segregated assets, asset administration and cash management if required
Depositary
Details of the services should cover the following elements:
— Safekeeping of Assets,
— Cash Monitoring,
— Oversight.
II.2.5) Award criteria
Quality criterion: Quality
/ Weighting: 80
Price
/ Weighting:
20
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
Section IV: Procedure
IV.1) Description
IV.1.1) Type of procedure
Competitive procedure with negotiation
IV.1.8) Information about Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement:
Yes
Section V: Award of contract
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
07/06/2018
V.2.2) Information about tenders
Number of tenders received: 4
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
Northern Trust Global Services Plc
50 Bank Street
London
E14 5NT
UK
NUTS: UKI
Internet address(es)
URL: www.northerntrust.com
The contractor is an SME:
No
V.2.4) Information on value of the contract/lot (excluding VAT)
Total value of the contract/lot:
: 2 700 000.00
GBP
V.2.5) Information about subcontracting
Section VI: Complementary information
VI.4) Procedures for review
VI.4.1) Review body
London LGPS CIV Ltd
59½ Southwark Street
London
SE1 0AL
UK
VI.4.4) Service from which information about the review procedure may be obtained
London LGPS CIV Ltd
59½ Southwark Street
London
SE1 0AL
UK
VI.5) Date of dispatch of this notice
20/07/2018