Scope
Reference
P00125
Description
LCIV wishes to procure data sets and modelling, scenario and risk analysis tools and related services which will be used to support the delivery of asset class modelling and allocation services to our Partner Funds, including advising on the appropriate risk profile for Partner Funds to take into account their strategic objectives and risk appetites. The data, tools and services must cover the full range of public and private market strategies used by the London Local Authority LGPS.
LCIV is inviting suppliers to bid their respective solutions, including proof-of-concept presentations which will enable bidders to demonstrate (and LCIV to evaluate) detailed functional capabilities of the proposed solutions, and the method of delivery of these solutions to the authority.
We anticipate that the appointed supplier will enter into a single agreement with LCIV for the provision of data and services and that such data and services will be allowed to be passed onto shared with our Partner Funds where they have a contractual agreement with LCIV for such services.
Total value (estimated)
- £2,700,000 including VAT
Above the relevant threshold
Contract dates (estimated)
- 1 January 2026 to 31 December 2028
- Possible extension to 31 December 2032
- 7 years
Description of possible extension:
Subject to satisfactory performance and ability to accommodate any service changed arising during the contract period, they initial contract period may be extended.
Main procurement category
Services
CPV classifications
- 66151000 - Financial market operational services
Contract locations
- UK - United Kingdom
Submission
Submission type
Requests to participate
Deadline for requests to participate
28 April 2025, 5:00pm
Submission address and any special instructions
Enquiries and Submissions may only be made via email to the following address:
Tenders may be submitted electronically
No
Languages that may be used for submission
English
Suppliers to be invited to tender
Maximum 8 suppliers
Selection criteria:
Previous track record of delivering similar services within a related sector.
Award decision date (estimated)
23 June 2025
Award criteria
| Name | Type | Order of importance |
|---|---|---|
| Ability to derive capital markets risk and return assumptions for the full range of public and private markets asset classes and to model and optimise these inputs | Quality | 1 |
| Approach used to generate asset class assumptions and techniques used to model and optimise outputs under different scenarios. | Quality | 2 |
| Experience and track record of delivering asset class modelling and allocation services to LGPS and other institutional investors | Quality | 3 |
| Method of delivery of services to London CIV and its Partner Funds, and capacity to scale up the service to cover the full range of London CIV clients. | Quality | 4 |
| Ability to incorporate climate scenarios and best practice in responsible investment into the asset allocation process. | Quality | 5 |
| Cost of providing the services | Cost | 6 |
Other information
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Competitive flexible procedure
Competitive flexible procedure description
The procurement will be structured into two key stages:
a. Stage 1: Selection
i. Applicants who have expressed an interest in the procurement will need to pre-qualify and must complete the Procurement Specific Questionnaire (PSQ) and have registered their details on the Central Digital Portal (CDP) within the Find a Tender portal.
ii. The PSQ sets out the information required by the authority in order to assess the suitability of applicants to perform the Services as well as their economic and financial standing and technical and professional ability.
iii. Tenders will be evaluated based on the bidder's written submission and proof of concept presentations.
iv. LCIV reserves the right to limit the number of applicants that are invited to Stage 2 of the procurement to no more than 5 that have received the highest scores under section 3 of the PSQ.
b. Stage 2: Invitation to Tender
i. The Authority will issue an ITT to applicants that are shortlisted to Stage 2 following the evaluation of the PSQ responses.
ii. A draft ITT will be made available to applicants on request via email during Stage 1 of the procurement for information only. Applicants must not respond to the draft ITT during Stage 1 of the procurement.
Justification for not publishing a preliminary market engagement notice
Market engagement was light touch exercise to help shape the requirement, this service requirement has been brought about by regulatory change.
Documents
Associated tender documents
P00125 Schedules.zip
P00125 - PSQ - Asset Class Modelling & Allocation Services v1.0.docx
P00125_Competitive_Flexible_Procedure_Strategic Asset Allocation v1.0.docx
P00125 - Mid-Tier_Award_Form_Asset Class Modelling & Allocation Services v1.0.docx
Draft contract award form
P00125 - Mid-Tier_Core_Terms_Word_v1.3_2025.docx
Mid-tier contract terms
Contracting authority
LONDON LGPS CIV LIMITED
- Companies House: 09136445
- Public Procurement Organisation Number: PQBW-9692-CYCW
4th Floor, 22 Lavington Street
London
SE1 0NZ
United Kingdom
Region: UKI44 - Lewisham and Southwark
Organisation type: Public authority - sub-central government