- Scope 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).
- Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
Section one: Contracting authority
one.1) Name and addresses
Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR0 2NA
Telephone
+44 8456002541
Country
United Kingdom
Region code
UKI62 - Croydon
Internet address(es)
Main address
https://ppf.bravosolution.co.uk/
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://ppf.bravosolution.co.uk/
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
https://ppf.bravosolution.co.uk/
Tenders or requests to participate must be submitted to the above-mentioned address
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Economic and financial affairs
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Order management, portfolio monitoring and risk analytics system
Reference number
CS0723
two.1.2) Main CPV code
- 48441000 - Financial analysis software package
two.1.3) Type of contract
Supplies
two.1.4) Short description
The Board of the Pension Protection Fund (PPF) is going out to tender, 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. Bidders may opt to bid for one or both 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)
If you are interested in participating in the competition for this requirement, please complete the Standard Questionnaire (SQ) linked to this notice by the SQ return date.
Full details of the requirements and how to respond are available in the Information and Guidance document which can be found at:
https://ppf.bravosolution.co.uk
two.1.5) Estimated total value
Value excluding VAT: £55,000,000
two.1.6) Information about lots
This contract is divided into lots: Yes
Tenders may be submitted for all lots
Maximum number of lots that may be awarded to one tenderer: 2
two.2) Description
two.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).
Lot No
1
two.2.2) Additional CPV code(s)
- 48000000 - Software package and information systems
- 48441000 - Financial analysis software package
- 66151000 - Financial market operational services
- 72212411 - Investment management software development services
two.2.3) Place of performance
NUTS codes
- UKI62 - Croydon
two.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).
two.2.5) Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
two.2.6) Estimated value
Value excluding VAT: £55,000,000
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Start date
1 April 2026
End date
31 March 2031
This contract is subject to renewal
Yes
Description of renewals
The contracts for both Lots 1 and 2 will be for an initial term of 5 years with optional extensions to take the maximum possible term to 10 years.
two.2.9) Information about the limits on the number of candidates to be invited
Envisaged number of candidates: 3
Objective criteria for choosing the limited number of candidates:
See tender documents available at https://ppf.bravosolution.co.uk/
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
two.2.14) Additional information
The total estimated contract value for the purposes of the notice has been calculated as a range between £43m and £55m across Lots 1 and 2 over the maximum contract term of 10 years.
two.2) Description
two.2.1) Title
Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
Lot No
2
two.2.2) Additional CPV code(s)
- 48441000 - Financial analysis software package
two.2.3) Place of performance
NUTS codes
- UKI62 - Croydon
two.2.4) Description of the procurement
Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
two.2.5) Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
two.2.6) Estimated value
Value excluding VAT: £55,000,000
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Start date
1 April 2026
End date
31 March 2031
This contract is subject to renewal
Yes
Description of renewals
The contracts for both Lots 1 and 2 will be for an initial term of 5 years with optional extensions to take the maximum possible term to 10 years.
two.2.9) Information about the limits on the number of candidates to be invited
Envisaged number of candidates: 3
Objective criteria for choosing the limited number of candidates:
As stated in the tender documents available at https://ppf.bravosolution.co.uk/
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
two.2.14) Additional information
The total estimated contract value for the purposes of the notice has been calculated as a range between £43m and £55m across Lots 1 and 2 over the maximum contract term of 10 years.
Section three. Legal, economic, financial and technical information
three.1) Conditions for participation
three.1.1) Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers
List and brief description of conditions
Stated in the tender documents available to download here https://ppf.bravosolution.co.uk/
three.1.2) Economic and financial standing
Selection criteria as stated in the procurement documents
three.1.3) Technical and professional ability
Selection criteria as stated in the procurement documents
three.2) Conditions related to the contract
three.2.2) Contract performance conditions
Stated in the tender documents available to download here https://ppf.bravosolution.co.uk/
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Competitive procedure with negotiation
four.1.4) Information about reduction of the number of solutions or tenders during negotiation or dialogue
Recourse to staged procedure to gradually reduce the number of solutions to be discussed or tenders to be negotiated
four.1.5) Information about negotiation
The contracting authority reserves the right to award the contract on the basis of the initial tenders without conducting negotiations
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.1) Previous publication concerning this procedure
Notice number: 2024/S 000-024563
four.2.2) Time limit for receipt of tenders or requests to participate
Date
13 February 2025
Local time
12:00pm
four.2.3) Estimated date of dispatch of invitations to tender or to participate to selected candidates
13 February 2025
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.6) Minimum time frame during which the tenderer must maintain the tender
Duration in months: 6 (from the date stated for receipt of tender)
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: No
six.2) Information about electronic workflows
Electronic invoicing will be accepted
Electronic payment will be used
six.3) Additional information
The Board of the Pension Protection Fund is tendering for an Order management, portfolio monitoring and risk analytics system.
The requirement has been split into two lots, Bidders may opt to bid for one or both 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)
Full details of the PPF's requirements are set out in the procurement documents
Please visit our tendering portal to access the procurement documents. You will need to create an account on the PPF tendering portal if you have not used it before.
Closing date for SQ responses - 13 February 2025
Closing date for ITT responses - 21 March 2025
Any changes to these dates will be communicated via the eSourcing portal to all Bidders.
The total estimated contract value for the purposes of the notice has been calculated as a range between £43m and £55m across Lots 1 and 2 over the maximum contract term of 10 years. The PPF is evolving within a changing market, and future needs for additional investment management modules is possible. These developments will align with market changes and the Board’s strategy, potentially requiring new software and licenses. This may lead to price revisions and increased fees over the contract’s duration, though the extent of these additional services is not guaranteed. In the event there was a significant increase to the number of schemes PPF takes on then this would require an amendment to the contract value. However, this known, unknown value cannot be predicted at this stage.
six.4) Procedures for review
six.4.1) Review body
The Board of the Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR20 2NA
Country
United Kingdom
six.4.2) Body responsible for mediation procedures
The Board of the Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR20 2NA
Country
United Kingdom
six.4.3) Review procedure
Precise information on deadline(s) for review procedures
The Board of the Pension Protection Fund
six.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
Country
United Kingdom