Contract award notice
Results of the procurement procedure
Section I: Contracting
entity
I.1) Name and addresses
Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR0 2NA
UK
Contact person: Claire Lefort
Telephone: +44 8456002541
E-mail: claire.lefort@ppf.co.uk
NUTS: UKI62
Internet address(es)
Main address: https://ppf.bravosolution.co.uk
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
Order management, portfolio monitoring and risk analytics system
Reference number: CS0723 ecm_3590
II.1.2) Main CPV code
48000000
II.1.3) Type of contract
Supplies
II.1.4) Short description
The Board of the Pension Protection Fund (PPF) is awarding a contract, tendered in accordance with the Public Contracts Regulations 2015 under the Competitive Procedure with Negotiation, to deliver the following systems which have been split into two lots:
Lot 1
• Order management system;
• Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI).
Lot 2
• Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
II.1.6) Information about lots
This contract is divided into lots:
Yes
II.1.7) Total value of the procurement
Value excluding VAT:
74 025 496.00
GBP
II.2) Description
Lot No: 1
II.2.1) Title
Lot 1 - Order management system, Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI).
II.2.2) Additional CPV code(s)
48000000
II.2.3) Place of performance
NUTS code:
UKI62
Main site or place of performance:
Croydon and London
II.2.4) Description of the procurement
Lot 1 - Order management system, Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI).
II.2.5) Award criteria
Quality criterion: Technical system requirements
/ Weighting: 85
Quality criterion: Price
/ Weighting: 6
Quality criterion: Price Sensitivity
/ Weighting: 6
Quality criterion: Contract
/ Weighting: 3
Price
/ Weighting:
100
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
Lot No: 2
II.2.1) Title
Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
II.2.2) Additional CPV code(s)
48441000
II.2.3) Place of performance
NUTS code:
UKI62
Main site or place of performance:
Croydon and London
II.2.4) Description of the procurement
Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
II.2.5) Award criteria
Quality criterion: Technical System Requirements
/ Weighting: 85
Quality criterion: Price
/ Weighting: 6
Quality criterion: Price Sensitivity
/ Weighting: 6
Quality criterion: Contract
/ Weighting: 3
Price
/ Weighting:
100
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
Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
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
IV.2) Administrative information
IV.2.1) Previous publication concerning this procedure
Notice number in the OJ S:
2025/S 000-001014
Section V: Award of contract
Lot No: 1
Contract No: 3590
Title: Order management, portfolio monitoring and risk analytics system
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
29/07/2025
V.2.2) Information about tenders
Number of tenders received: 2
Number of tenders received from tenderers from EU Member States: 2
Number of tenders received from tenderers from non-EU Member States: 2
Number of tenders received by electronic means: 2
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
BlackRock Financial Management, Inc
2446204
BlackRock’s global headquarters: 50 Hudson Yards, New York, NY 10001, United States.
New York
NY 10001
US
NUTS: US
Internet address(es)
URL: www.blackrock.com/aladdin
The contractor is an SME:
No
V.2.4) Information on value of the contract/lot (excluding VAT)
Total value of the contract/lot:
: 74 025 496.00
GBP
V.2.5) Information about subcontracting
Section V: Award of contract
Lot No: 2
Contract No: 3590
Title: Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
29/07/2025
V.2.2) Information about tenders
Number of tenders received: 4
Number of tenders received from tenderers from non-EU Member States: 4
Number of tenders received by electronic means: 4
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
BlackRock Financial Management, Inc
2446204
BlackRock’s global headquarters: 50 Hudson Yards, New York, NY 10001, United States. BlackRock’s primary European office: Drapers Gardens, 12 Throgmorton Avenue, London EC2N 2DL England.
New York
NY 10001
US
NUTS: US
Internet address(es)
URL: www.blackrock.com/aladdin
The contractor is an SME:
No
V.2.4) Information on value of the contract/lot (excluding VAT)
Total value of the contract/lot:
: 74 025 496.00
GBP
V.2.5) Information about subcontracting
Section VI: Complementary information
VI.3) Additional information
The contract is awarded for an initial term of five years, with the option to extend for up to an additional five years, resulting in a maximum potential duration of ten years. For the purposes of this notice, the total estimated contract value across Lots 1 and 2 over the full ten-year term is projected to range between £48,766,000 and £74,025,496. This range reflects both fixed and variable fees, which are influenced by the total assets under management by the PPF. As such, the final value may vary. These figures are based on long-term projections and should be considered indicative, given the ten-year forecasting horizon.
The PPF is continually developing its business within a changing market, and it is envisaged that there may be future requirements for further services within the scope of the investment management area; for example, fund accounting, support for additional asset classes or investment strategies, and any such requirements that are complementary or required to support the delivery of the system.
The additional services that may be included over the life of the contract may result in a price revision of the original contract and/or may significantly increase or decrease the fees paid in relation to these services. Similarly, there are variable volume related fees associated with the services, if there were to be an increase, or decrease in the volume of assets managed by the PPF, or an amendment in the number of users or types of assets managed this would also lead to a price revision of the original contract and/or may result in a change to the fees paid in relation to these services. The Board makes no guarantee as to the nature and extent of such services or the potential change in assets under management over the course of the contract term, this known, unknown value cannot be reliably predicted at this stage.
VI.4) Procedures for review
VI.4.1) Review body
The Board of the Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR20 2NA
UK
E-mail: commercialservices@ppf.co.uk
VI.4.2) Body responsible for mediation procedures
The Board of the Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR20 2NA
UK
E-mail: commercialservices@ppf.co.uk
VI.4.4) Service from which information about the review procedure may be obtained
The Board of the Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR20 2NA
UK
E-mail: commercialservices@ppf.co.uk
VI.5) Date of dispatch of this notice
06/10/2025