Contract award notice
Results of the procurement procedure
Section I: Contracting
entity
I.1) Name and addresses
South West Investment Group (Capital) Ltd
Lowena House, Glenthorne Court, Truro Business Park, Threemilestone
Truro
TR4 9NY
UK
Contact person: Jenny Nott
E-mail: finance@swigcapital.co.uk
NUTS: UKK
Internet address(es)
Main address: https://www.swigfinance.co.uk/swig-capital-ltd/
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
Selection of a Fund Manager to Manage the South West Loans Fund II
II.1.2) Main CPV code
66000000
II.1.3) Type of contract
Services
II.1.4) Short description
South West Investment Group (Capital) Ltd (SWIGC) wishes to appoint a fund manager to manage the South West Loans Fund II (the Fund), which will provide loans to small-medium-sized businesses in certain areas in the South West, which cannot obtain their full lending requirements from other financial sources.
II.1.6) Information about lots
This contract is divided into lots:
No
II.1.7) Total value of the procurement
Value excluding VAT:
1 000 000.00
EUR
II.2) Description
II.2.3) Place of performance
NUTS code:
UKK
Main site or place of performance:
The following Local Economic Partnership (LEP) areas: Heart of the South West LEP, West of England LEP, Gloucestershire LEP, Dorset LEP, Swindon and Wiltshire LEP.
II.2.4) Description of the procurement
South West Investment Group (Capital) Ltd (SWIGC) wishes to appoint a fund manager to manage the South West Loans Fund II (the Fund), which comprises of resources from SWIGC and the legacy from the Competitiveness ERDF South West Loans Fund, the Microcredit Loans Fund and the Cleantech Low Carbon Mezzanine Co-Investment Fund.
The fund will provide loans of between GBP 25 000 and GBP 250 000 to small- and medium-sized incorporated businesses which cannot obtain their full lending requirements from other financial sources in the following Local Economic Partnership (LEP) areas: Heart of the South West LEP, West of England LEP, Gloucestershire LEP, Dorset LEP, Swindon and Wiltshire LEP. For fund modelling purposes it is expected that an initial investment of GBP 5.73 million, plus reinvestment of returns, will be invested in 180 businesses at an average of GBP 60 000 over a 5-year period.
II.2.5) Award criteria
Quality criterion: Individual CVs
/ Weighting: 12
Quality criterion: Investment and appraisal experience; realisation and portfolio management experience
/ Weighting: 28
Quality criterion: Method for management and realisations; approach to delivery of objectives; method for monitoring and remedial actions
/ Weighting: 15
Quality criterion: FCA Permissions or equivalent
/ Weighting: 8
Quality criterion: Knowledge of and compliance with applicable requirements and process
/ Weighting: 6
Price
/ Weighting:
30
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
Following the relevant consents, the fund is, in part, resourced by legacy monies from various funds which were to some extent supported by ERDF/EU finance. However, given that the original ERDF funds have been recycled through previous lending activity, the financing is now to be treated as 'other public monies' for regulatory and compliance purposes.
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:
2020/S 054-129787
Section V: Award of contract
Title: Selection of a Fund Manager to manage the South West Loans Fund II
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
//
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
SWIG Finance Ltd
Truro
UK
NUTS: UKK
The contractor is an SME:
Yes
V.2.4) Information on value of the contract/lot (excluding VAT)
Initial estimated total value of the contract/lot:
Total value of the contract/lot:
: 1 000 000.00
GBP
V.2.5) Information about subcontracting
Section VI: Complementary information
VI.4) Procedures for review
VI.4.1) Review body
High Court of England and Wales
Royal Courts of Justice, Strand
London
WC2A 2LL
UK
VI.4.3) Review procedure
Precise information on deadline(s) for review procedures:
The Public Contracts Regulations 2015 (the Regulations) provide that aggrieved parties who have been harmed or who are at risk of harm by a breach of the Regulations can bring proceedings in the High Court (England, Wales and Northern Ireland). Any such proceedings must be brought within the limitation period specified by the Regulations according to the remedy sought.
VI.5) Date of dispatch of this notice
22/07/2020