Contract notice
Section I: Contracting
authority
I.1) Name and addresses
London LGPS CIV Ltd
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.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge at:
https://www.capitalesourcing.com
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be sent electronically to:
https://www.capitalesourcing.com
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
General public services
Section II: Object
II.1) Scope of the procurement
II.1.1) Title
Audit Services to LCIV, an 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.1.5) Estimated total value
Value excluding VAT:
875 000.00
GBP
II.1.6) Information about lots
This contract is divided into lots:
No
II.2) Description
II.2.2) Additional CPV code(s)
79212300
II.2.3) Place of performance
NUTS code:
UKI4
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 is not the only award criterion and all criteria are stated only in the procurement documents
II.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 60
This contract is subject to renewal: Yes
Description of renewals:
The Authority can take an option to break the contract at the end of 36 months.
II.2.9) Information about the limits on the number of candidates to be invited
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
Section III: Legal, economic, financial and technical information
III.1) Conditions for participation
III.2) Conditions related to the contract
III.2.2) Contract performance conditions
Potential service providers will be assessed on the basis of the information provided in response to an invitation to tender.
III.2.3) Information about staff responsible for the performance of the contract
Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract
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.2.2) Time limit for receipt of tenders or requests to participate
Date:
20/08/2019
Local time: 12:00
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: 3 (from the date stated for receipt of tender)
IV.2.7) Conditions for opening of tenders
Date:
20/08/2019
Local time: 12:01
Section VI: Complementary information
VI.1) Information about recurrence
This is a recurrent procurement:
Yes
Estimated timing for further notices to be published:
60.
VI.4) Procedures for review
VI.4.1) Review body
London LGPS CIV Ltd
4th Floor, 22 Lavington Street
London
SE1 0NZ
UK
VI.4.2) Body responsible for mediation procedures
Royal Courts of Justice
London
WC1A 2LL
UK
VI.4.3) Review procedure
Precise information on deadline(s) for review procedures:
OJEU procedures include a minimum 10 calendar days 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
London LGPS CIV Ltd
4th Floor, 22 Lavington Street
London
SE1 0NZ
UK
VI.5) Date of dispatch of this notice
17/07/2019