The procurement documents are available for unrestricted and full direct access, free of charge at:
http://www.delta-esourcing.com/tenders/UK-UK-Sheffield:-Financial-and-insurance-services./2WY49EC97Q
Lot No: 1
II.2.1) Title
Equity
II.2.2) Additional CPV code(s)
66000000
66100000
66120000
66122000
66190000
II.2.3) Place of performance
NUTS code:
UKF
UKG
Main site or place of performance:
East Midlands (¿ngland), West Midlands (¿ngland).
II.2.4) Description of the procurement
Equity Funds where the authority is looking to commit between 80 000 000 GBP and 300 000 000 GBP across a number of funds.
Each equity investment must satisfy the following conditions:
1) Be an investment in an SME in the MEIF Area
2) Be an investment in a range size of up to 2 000 000 GBP subject to permitted changes in accordance with the IOGs of the relevant Fund
3) All conditions in the the Investment Operational Guidelines (IOGs), the Limited Partnership Agreement (LPA) and Fund Management Agreement of the relevant Fund
General Requirements applicable to all Lots (including without limit the following):
1.Operating one or more funds in accordance with the terms of the relevant fund management agreement;
2.Identifying SMEs which are eligible for investment in accordance with the rules of the particular fund, conducting appropriate commercial and technical due diligence and structuring deals;
3.Generating deal flow and working with investee companies in the MEIF Area before and after concluding investments;
4.Concluding equity, debt and small business loans investments (as appropriate to the Fund's investment type), in eligible SMEs in the MEIF Area and in accordance with EC State aid law and all other laws;
5.Maximising, where appropriate, the additional investment made by private sector co-investors into investee companies;
6.Managing the investment portfolio to add value to investee companies and achieve profitable exits for the fund;
7.Managing the investment fund so as to maximise the returns to the investors/legacy fund while minimising the operational costs and the costs to investee companies and whilst delivering the Targets;
8.Monitoring the investment portfolio and providing regular reports on investment activity, fund performance and related outputs to the Authority (and where applicable the relevant Other Contracting Authority); and
9. Marketing the investment fund to the appropriate market sectors and professional services intermediaries and developing, maintaining and exploiting networks in relevant communities and markets relevant to the investment funds.
The figure in II.2.6 is the lowest estimated fee based on the bottom end of the fund size in II.1.4 for this Lot. The actual fee range will be based on bidder's proposals as percentages against the fund size in II.1.4 for this Lot.
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:
6 500 000.00
GBP
II.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 48
This contract is subject to renewal: No
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:
Yes
Identification of the project:
Part funded by the European Regional Development Fund and the European Investment Bank.
II.2.14) Additional information
Lot 1 is for a framework agreement with an envisaged max of 4 suppliers. The Framework Agreements will have a term of 4 years and call off contracts under the Framework. It is proposed that MEIF will begin making investment commitments to product sub-funds from early 2017.
Lot No: 2
II.2.1) Title
Debt
II.2.2) Additional CPV code(s)
66000000
66100000
66120000
66122000
66190000
II.2.3) Place of performance
NUTS code:
UKF
UKG
Main site or place of performance:
East Midlands (¿ngland), West Midlands (¿ngland).
II.2.4) Description of the procurement
Debt Funds — where the authority is looking to commit between 120 000 000 GBP and 400 000 000 GBP. Each loan must satisfy the following conditions:
1) Be a loan to an SME in the MEIF Area
2) Be a loan in a range size of 100 000 GBP to 1 500 000 GBP subject to permitted changes in accordance with the IOGs of the relevant Fund
3) All conditions in the IOGs, LPA and IMA of the relevant Fund
General Requirements applicable to all Lots (including without limit the following):
1.Operating one or more funds in accordance with the terms of the relevant fund management agreement;
2.Identifying SMEs which are eligible for investment in accordance with the rules of the particular fund, conducting appropriate commercial and technical due diligence and structuring deals;
3.Generating deal flow and working with investee companies in the MEIF Area before and after concluding investments;
4.Concluding equity, debt and small business loans investments (as appropriate to the Fund's investment type), in eligible SMEs in the MEIF Area and in accordance with EC State aid law and all other laws;
5.Maximising, where appropriate, the additional investment made by private sector co-investors into investee companies;
6.Managing the investment portfolio to add value to investee companies and achieve profitable exits for the fund;
7.Managing the investment fund so as to maximise the returns to the investors/legacy fund while minimising the operational costs and the costs to investee companies and whilst delivering the Targets;
8.Monitoring the investment portfolio and providing regular reports on investment activity, fund performance and related outputs to the Authority (and where applicable the relevant Other Contracting Authority); and
9. Marketing the investment fund to the appropriate market sectors and professional services intermediaries and developing, maintaining and exploiting networks in relevant communities and markets relevant to the investment funds.
The figure in II.2.6 is the lowest estimated fee based on the bottom end of the fund size in II.1.4 for this Lot. The actual fee range will be based on bidder's proposals as percentages against the fund size in II.1.4 for this Lot.
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:
6 000 000.00
GBP
II.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 48
This contract is subject to renewal: No
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:
Yes
Identification of the project:
Part-funded by the European Regional Development Fund and the European Investment Bank.
II.2.14) Additional information
This Lot is for a Framework Agreement with an envisaged maximum of 5 suppliers. The Framework Agreements will have a term of 4 years and call off contracts under the Framework. It is proposed that MEIF will begin making investment commitments to product sub-funds from early 2017.
Lot No: 3
II.2.1) Title
Small Business Loans
II.2.2) Additional CPV code(s)
66000000
66100000
66120000
66122000
66190000
II.2.3) Place of performance
NUTS code:
UKF
UKG
Main site or place of performance:
East Midlands (England), West Midlands (England).
II.2.4) Description of the procurement
Small Business Loans where the authority is looking to commit between 30 000 000 GBP and 60 000 000 GBP. Each small business loan must satisfy the following conditions:
1) Be a loan to an SME in the MEIF Area
2) Be a loan in a range size of 25 000 GBP to 100 000 GBP subject to permitted changes in accordance with the IOGs of the relevant Fund
3) All conditions in the IOGs, LPA and IMA of the relevant Fund
General Requirements applicable to all Lots (including without limit the following):
1.Operating one or more funds in accordance with the terms of the relevant fund management agreement;
2.Identifying SMEs which are eligible for investment in accordance with the rules of the particular fund, conducting appropriate commercial and technical due diligence and structuring deals;
3.Generating deal flow and working with investee companies in the MEIF Area before and after concluding investments;
4.Concluding equity, debt and small business loans investments (as appropriate to the Fund's investment type), in eligible SMEs in the MEIF Area and in accordance with EC State aid law and all other laws;
5.Maximising, where appropriate, the additional investment made by private sector co-investors into investee companies;
6.Managing the investment portfolio to add value to investee companies and achieve profitable exits for the fund;
7.Managing the investment fund so as to maximise the returns to the investors/legacy fund while minimising the operational costs and the costs to investee companies and whilst delivering the Targets;
8.Monitoring the investment portfolio and providing regular reports on investment activity, fund performance and related outputs to the Authority (and where applicable the relevant Other Contracting Authority); and
9. Marketing the investment fund to the appropriate market sectors and professional services intermediaries and developing, maintaining and exploiting networks in relevant communities and markets relevant to the investment funds.
The figure in II.2.6 is the lowest estimated fee based on the bottom end of the fund size in II.1.4 for this Lot. The actual fee range will be based on bidder's proposals as percentages against the fund size in II.1.4 for this Lot.
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:
1 500 000.00
GBP
II.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 48
This contract is subject to renewal: No
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:
Yes
Identification of the project:
Part funded by the European Regional Development Fund and the European Investment Bank.
II.2.14) Additional information
This Lot is for a Framework Agreement with an envisaged maximum of 5 suppliers. The Framework Agreements will have a term of 4 years and call off contracts under the Framework. It is proposed that MEIF will begin making investment commitments to product sub-funds from early 2017.
Lot No: 4
II.2.1) Title
Proof of Concept and Early Stage
II.2.2) Additional CPV code(s)
66000000
66100000
66120000
66122000
66190000
II.2.3) Place of performance
NUTS code:
UKF
UKG
Main site or place of performance:
East Midlands (England), West Midlands (England).
II.2.4) Description of the procurement
Proof of Concept and Early Stage Fund where the authority is looking to commit between 20 000 000 GBP and 40 000 000 GBP
Each equity, quasi-equity or loan investment must satisfy the following conditions:
1) Be an investment in an SME in the MEIF Area
2) Be an investment in a range size of up to 750 000 GBP subject to permitted changes in accordance with the IOGs of the relevant Fund
3) All conditions in the IOGs, LPA and IMA of the relevant Fund
General Requirements applicable to all Lots (including without limit the following):
1.Operating one or more funds in accordance with the terms of the relevant fund management agreement;
2.Identifying SMEs which are eligible for investment in accordance with the rules of the particular fund, conducting appropriate commercial and technical due diligence and structuring deals;
3.Generating deal flow and working with investee companies in the MEIF Area before and after concluding investments;
4.Concluding equity, debt and small business loans investments (as appropriate to the Fund's investment type), in eligible SMEs in the MEIF Area and in accordance with EC State aid law and all other laws;
5.Maximising, where appropriate, the additional investment made by private sector co-investors into investee companies;
6.Managing the investment portfolio to add value to investee companies and achieve profitable exits for the fund;
7.Managing the investment fund so as to maximise the returns to the investors/legacy fund while minimising the operational costs and the costs to investee companies and whilst delivering the Targets;
8.Monitoring the investment portfolio and providing regular reports on investment activity, fund performance and related outputs to the Authority (and where applicable the relevant Other Contracting Authority); and
9. Marketing the investment fund to the appropriate market sectors and professional services intermediaries and developing, maintaining and exploiting networks in relevant communities and markets relevant to the investment funds.
The figure in II.2.6 is the lowest estimated fee based on the bottom end of the fund size in II.1.4 for this Lot. The actual fee range will be based on bidder's proposals as percentages against the fund size in II.1.4 for this Lot.
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:
5 000 000.00
GBP
II.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 48
This contract is subject to renewal: No
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:
Yes
Identification of the project:
Part funded by the European Regional Development Fund and the European Investment Bank.
II.2.14) Additional information
This Lot is for a Framework Agreement with an envisaged maximum of 3 suppliers. It is proposed that MEIF will begin making investment commitments to product sub-funds from early 2017.
The contracting authority considers that this contract may be suitable for economic operators that are small or medium enterprises (SMEs). However, any selection of tenderers will be based solely on the criteria set out for the procurement. 3.1BBB is the United Kingdom's government-owned economic development bank that makes finance markets for smaller businesses work more effectively, allowing those businesses to prosper, grow and build UK economic activity. The BBB group manages and invests in access to finance programmes for smaller businesses within a single commercially-minded institution. The Authority is a wholly owned subsidiary of BBB and its purpose is to manage certain schemes for the Sponsoring Authority, including MEIF.
(b) British Business Bank Plc and any members of it's group (within the meaning of the Companies Act 2006)
(d) the Sponsoring Authority being Department for Business, Energy and Industrial Strategy, the Secretary of State for Business, Energy and Industrial Strategy or the Secretary of State for Business, Innovation and Skills (in each case as the context requires) and any entity owned or controlled by the sponsoring Authority
The Authority will hold two bidder days on 17.10.2016 in Derby and 20.10.2016 in Birmingham for the purposes of presenting the opportunity under the ITT to Tenderers. Tenderers are permitted to send up to two representatives to attend a bidder day and may attend only one bidder day. Please see the ITT for further information.
Candidates wishing to apply for the contract opportunity must complete and submit its tender as set out in the procurement documents before the closing date of 14.11.2016 at 13:00.
The Authority may terminate or suspend the award process at any time without incurring any cost or liability. The Authority does not bind itself to enter into any contract arising out of the procedures envisaged by this notice. No contractual rights expressed or implied arise out of this notice or the procedures envisaged by it. The Authority will not be liable in any way to any candidate or tenderer for any costs incurred in connection with this procurement process. The Authority reserves the right to disqualify any candidate who provides information or confirmations which later prove to be untrue or incorrect; does not supply the information required by this notice or by the procurement documents or as otherwise directed by the Authority during the procurement process; or fulfills any 1 or more of the criteria stated in the procurement documents (including Regulation 57 of the Public Contracts Regulations 2015)
A tenderer will be required to agree to be audited by the UK audit bodies, the European Commission and the European Court of Auditors along with the funders and their auditors.
For more information about this opportunity, please visit the Delta eSourcing portal at:
https://www.delta-esourcing.com/tenders/UK-UK-Sheffield:-Financial-and-insurance-services./2WY49EC97Q
GO Reference: GO-2016105-PRO-8902253.