Section one: Contracting authority
one.1) Name and addresses
Scottish National Investment Bank
1-North, Waverley Gate, 2-4 Waterloo Place
Edinburgh
EH1 3EG
Contact
Procurement
Telephone
+44 7876546332
Country
United Kingdom
NUTS code
UKM75 - Edinburgh, City of
Internet address(es)
Main address
Buyer's address
https://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA30487
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
Scottish National Investment Bank - Investment Management System
two.1.2) Main CPV code
- 48411000 - Investment management software package
two.1.3) Type of contract
Supplies
two.1.4) Short description
An end to end management system enabling the maintenance and monitoring of a live investment portfolio, including debt, direct equity and fund investment styles.
two.1.6) Information about lots
This contract is divided into lots: Yes
two.1.7) Total value of the procurement (excluding VAT)
Value excluding VAT: £702,000
two.2) Description
two.2.1) Title
Fund Administration
Lot No
1
two.2.2) Additional CPV code(s)
- 72212411 - Investment management software development services
two.2.3) Place of performance
NUTS codes
- UKM75 - Edinburgh, City of
two.2.4) Description of the procurement
Background and system purpose –
The Scottish National Investment Bank (the “Bank”) is looking to procure an investment management system to maintain its live investment portfolio, c. 16 assets, GBP200m commitment to date, rising to c. 200 assets, GBP2bn+ deployed over the course of ten years. The Bank’s expectation is that the assets / AUM level would be c. 100 investments / GBP1bn at the end of the Investment Management System’s initial four-year contract period, with the investment count / AUM increasing smoothly over that period.
The Bank’s investments will comprise debt, direct equity and fund investments and blends of these instruments. The system will initially be set up to host a single legal entity, Scottish Investments Limited, which holds these assets directly, however the system should be scalable to allow for additional legal entities / investors over time.
The Bank is a new entity (established November 2020) and so data migration efforts will be minimal. The system will be expected primarily to support the operations and reporting requirements of the Bank’s Impact, Portfolio Management, and Investment Operations teams.
Note that the Bank is looking for an optimal solution to perform both fund administration and portfolio / impact management functions. This may be achieved through the employment of one or two systems and the Bank will be looking to source the best solution in aggregate, hence the requirements are divided into 2 Lots, one for Fund Administration, and two for Portfolio Management.
Bank System Architecture and user base
Preference is for remote hosting / software as a service.
two.2.5) Award criteria
Quality criterion - Name: Quality / Weighting: 65
Price - Weighting: 35
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) Description
two.2.1) Title
Portfolio Management
Lot No
2
two.2.2) Additional CPV code(s)
- 72212411 - Investment management software development services
two.2.3) Place of performance
NUTS codes
- UKM75 - Edinburgh, City of
Main site or place of performance
Edinburgh
two.2.4) Description of the procurement
Background and system purpose –
The Scottish National Investment Bank (the “Bank”) is looking to procure an investment management system to maintain its live investment portfolio, c. 16 assets, GBP200m commitment to date, rising to c. 200 assets, GBP2bn+ deployed over the course of ten years. The Bank’s expectation is that the assets / AUM level would be c. 100 investments / GBP1bn at the end of the Investment Management System’s initial four-year contract period, with the investment count / AUM increasing smoothly over that period.
The Bank’s investments will comprise debt, direct equity and fund investments and blends of these instruments. The system will initially be set up to host a single legal entity, Scottish Investments Limited, which holds these assets directly, however the system should be scalable to allow for additional legal entities / investors over time.
The Bank is a new entity (established November 2020) and so data migration efforts will be minimal. The system will be expected primarily to support the operations and reporting requirements of the Bank’s Impact, Portfolio Management, and Investment Operations teams.
Note that the Bank is looking for an optimal solution to perform both fund administration and portfolio / impact management functions. This may be achieved through the employment of one or two systems and the Bank will be looking to source the best solution in aggregate, hence the requirements are divided into 2 Lots, one for Fund Administration, and two for Portfolio Management.
Bank System Architecture and user base
Preference is for remote hosting / software as a service.
two.2.5) Award criteria
Quality criterion - Name: Quality / Weighting: 65
Price - Weighting: 35
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
Open 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 022-190853
Section five. Award of contract
Lot No
1
Title
Fund Administration
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
14 October 2022
five.2.2) Information about tenders
Number of tenders received: 8
Number of tenders received from SMEs: 1
Number of tenders received from tenderers from other EU Member States: 0
Number of tenders received from tenderers from non-EU Member States: 8
Number of tenders received by electronic means: 8
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
FIS Global
25 Canada Square , Canary Wharf
London
E14 5LQ
Telephone
+44 7483946893
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)
Total value of the contract/lot: £390,000
Section five. Award of contract
Lot No
2
Title
Portfolio Management
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
7 December 2022
five.2.2) Information about tenders
Number of tenders received: 9
Number of tenders received from SMEs: 2
Number of tenders received from tenderers from other EU Member States: 0
Number of tenders received from tenderers from non-EU Member States: 9
Number of tenders received by electronic means: 9
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
PortF.io
1/14 Parliament Square
Edinburgh
eh1 1rf
Telephone
+44 7738180503
Country
United Kingdom
NUTS code
- UKM75 - Edinburgh, City of
The contractor is an SME
Yes
five.2.4) Information on value of contract/lot (excluding VAT)
Total value of the contract/lot: £312,000
Section six. Complementary information
six.3) Additional information
(SC Ref:717947)
six.4) Procedures for review
six.4.1) Review body
Sheriff Court
Edinburgh
Country
United Kingdom