Section one: Contracting authority
one.1) Name and addresses
Newcastle University
Newcastle University, 1 Park Tce
Newcastle upon Tyne
NE1 7RU
Contact
Mrs Leigh Robinson
Telephone
+44 1912088618
Country
United Kingdom
Region code
UKC22 - Tyneside
Internet address(es)
Main address
Buyer's address
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Education
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
NU/ 1756 The Provision of Global Equity Manager/s
Reference number
DN597651
two.1.2) Main CPV code
- 66120000 - Investment banking services and related services
two.1.3) Type of contract
Services
two.1.4) Short description
The university appointed active global equity investment managers to manage in the region of £75m behalf of the University of Newcastle endowment fund.
two.1.6) Information about lots
This contract is divided into lots: No
two.1.7) Total value of the procurement (excluding VAT)
Lowest offer: £2,000,000 / Highest offer: £2,500,000 taken into consideration
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKC22 - Tyneside
two.2.4) Description of the procurement
The University wishes to appoint active global equity investment manager/s (between 1 and 3 companies) to manage in the region of £75m behalf of the University of Newcastle endowment fund.
Social and environmental justice are core values of the University and we are committed to socially and environmentally responsible investment. We are looking to appoint investment managers with well-developed ESG approaches who will also work with us to achieve the aims of our Climate Action Plan. We do not permit investment in tobacco related companies or companies making revenue from armaments or from the extraction and production of fossil fuels.
UK equities are acceptable within the portfolio but must not exceed 20% of the total portfolio by value. Bidders should disclose the control ranges which they apply to UK holdings.
To be considered managers must meet the criteria outlined in the specification including:
• UNPRI signatory
• No investment in tobacco related companies or companies making revenue from armaments or from the extraction and production of fossil fuels.
• Is not currently and has not in the last five years been subject to serious regulatory investigation or action
• Track record of fund management team of at least ten years in running equity mandates
• Ability to contribute to the University’s Climate Action Plan through the provision of reports on the carbon footprint of investment portfolios
All criteria are extremely important to the University and will not be negotiable.
two.2.5) Award criteria
Quality criterion - Name: Quality / Weighting: 70
Price - Weighting: 30
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
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.2.1) Previous publication concerning this procedure
Notice number: 2022/S 000-005719
Section five. Award of contract
Contract No
NU/1756 The Provision of Global Equity Manager/s
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
15 July 2022
five.2.2) Information about tenders
Number of tenders received: 4
Number of tenders received from SMEs: 0
Number of tenders received by electronic means: 4
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
Janus Henderson Investors
201 Bishopsgate
London
EC2M 3AE
Country
United Kingdom
NUTS code
- UK - United Kingdom
The contractor is an SME
No
five.2.4) Information on value of contract/lot (excluding VAT)
Initial estimated total value of the contract/lot: £830,000
Lowest offer: £800,000 / Highest offer: £830,000 taken into consideration
Section five. Award of contract
Contract No
NU/1756
Title
NU/1756 The Provision of Global Equity Manager/s
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
15 July 2022
five.2.2) Information about tenders
Number of tenders received: 4
Number of tenders received by electronic means: 4
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
Liontrust Asset Management Plc
2 Savoy Court
London
WC2R 0EZ
Country
United Kingdom
NUTS code
- UK - United Kingdom
The contractor is an SME
No
five.2.4) Information on value of contract/lot (excluding VAT)
Lowest offer: £800,000 / Highest offer: £830,000 taken into consideration
Section five. Award of contract
Contract No
NU/1756
Title
The Provision of Global Equity Manager/s
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
15 July 2022
five.2.2) Information about tenders
Number of tenders received: 4
Number of tenders received by electronic means: 4
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
Schroders
1 London Wall Place
London
EC2Y 5AU
Country
United Kingdom
NUTS code
- UK - United Kingdom
The contractor is an SME
No
five.2.4) Information on value of contract/lot (excluding VAT)
Initial estimated total value of the contract/lot: £830,000
Lowest offer: £800,000 / Highest offer: £830,000 taken into consideration
Section six. Complementary information
six.4) Procedures for review
six.4.1) Review body
Newcastle University
Newcastle upon Tyne
Country
United Kingdom
six.4.3) Review procedure
Precise information on deadline(s) for review procedures
The University will incorporate a standstill period at the point information on the award of the
contract is communicated to tenderers. That notification will provide full information on the award decision. The standstill period, which will be for a minimum of 10 calendar days, provides time for unsuccessful tenderers to challenge the award decision before the contract is entered into.
The Public Contracts Regulations 2015 (SI 2015 No 102) provide for aggrieved parties who have been harmed or are at risk of harm by a breach of the rules to take action in the High Court (England, Wales and Northern Ireland) within 30 days of knowledge or constructive knowledge of breach.