Section one: Contracting authority
one.1) Name and addresses
DURHAM COUNTY COUNCIL
County Hall
DURHAM
DH15UL
Contact
Aidan Keith
Telephone
+44 3000265736
Country
United Kingdom
NUTS code
UKC14 - Durham CC
Internet address(es)
Main address
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
Electronic communication requires the use of tools and devices that are not generally available. Unrestricted and full direct access to these tools and devices is possible, free of charge, at
one.4) Type of the contracting authority
Regional or local authority
one.5) Main activity
General public services
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Finance Durham Fund - Investment Fund Management Service
Reference number
DN576359
two.1.2) Main CPV code
- 66000000 - Financial and insurance services
two.1.3) Type of contract
Services
two.1.4) Short description
DCC operates a £20m investment fund (the Finance Durham Fund) to invest in enterprises (via debt, mezzanine and equity finance) across County Durham. Though not exclusively for SMEs, investees to date have been SMEs and it is anticipated that investees will be largely be SMEs in the future. The Fund is 100% financed by DCC and is operated on a commercial basis to deliver both an economic development impact and financial return to the Authority over the longer term.
The Finance Durham fund is structured as 'Evergreen' - that is, to provide debt and equity finance on an ongoing / permanent basis through the recycling of investment and interest returns to the Fund.
The Purpose of this procurement is to procure the services of a single FCA regulated fund manager, following the completion of the contractual term, to undertake the following activity in relation to the Finance Durham Fund:
1. Investment Fund Management
2. Portfolio management
3. Provision of access to finance (A2F) business support activity .
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.2) Additional CPV code(s)
- 66000000 - Financial and insurance services
two.2.3) Place of performance
NUTS codes
- UKC14 - Durham CC
two.2.4) Description of the procurement
DCC operates a £20m investment fund (the Finance Durham Fund) to invest in enterprises (via debt, mezzanine and equity finance) across County Durham. Though not exclusively for SMEs, investees to date have been SMEs and it is anticipated that investees will be largely be SMEs in the future. The Fund is 100% financed by DCC and is operated on a commercial basis to deliver both an economic development impact and financial return to the Authority over the longer term.
The Finance Durham fund is structured as 'Evergreen' - that is, to provide debt and equity finance on an ongoing / permanent basis through the recycling of investment and interest returns to the Fund.
The Purpose of this procurement is to procure the services of a single FCA regulated fund manager, following the completion of the contractual term, to undertake the following activity in relation to the Finance Durham Fund:
1. Investment Fund Management
2. Portfolio management
3. Provision of access to finance (A2F) business support activity .
two.2.5) Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
two.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
optional 60 month renewal split as 24+24+12
two.2.9) Information about the limits on the number of candidates to be invited
Envisaged minimum number: 1
Maximum number: 6
Objective criteria for choosing the limited number of candidates:
Following the SQ stage a maximum of 6 suppliers (plus ties) will be taken forward to the Invitation to Tender.
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: No
Section three. Legal, economic, financial and technical information
three.1) Conditions for participation
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
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Restricted procedure
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.2.2) Time limit for receipt of tenders or requests to participate
Date
29 March 2022
Local time
12:00pm
four.2.3) Estimated date of dispatch of invitations to tender or to participate to selected candidates
15 April 2022
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: 12 (from the date stated for receipt of tender)
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: Yes
six.4) Procedures for review
six.4.1) Review body
Durham County Council
Durham
Country
United Kingdom