Section one: Contracting authority
one.1) Name and addresses
The West of England Combined Authority
70 Redcliff Street
Bristol
BS1 6AL
Contact
Paul Smith
paul.smith@westofengland-ca.gov.uk
Country
United Kingdom
Region code
UK - United Kingdom
Internet address(es)
Main address
https://www.westofengland-ca.gov.uk/about-us/contact-us/
Buyer's address
https://www.westofengland-ca.gov.uk/about-us/contact-us/
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://weca-atamis.my.site.com/s/Welcome
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
https://weca-atamis.my.site.com/s/Welcome
Tenders or requests to participate must be submitted to the above-mentioned address
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
GGIF Fund Management
Reference number
C0331
two.1.2) Main CPV code
- 66000000 - Financial and insurance services
two.1.3) Type of contract
Services
two.1.4) Short description
This MCA is seeking to procure an appropriately qualified and experienced AIFM to go to market and raise matching capital from significant external public and importantly, private investors, aiming at a 10x multiple of the Combined Authority’s impact.
two.1.5) Estimated total value
Value excluding VAT: £600,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.3) Place of performance
NUTS codes
- UK - United Kingdom
two.2.4) Description of the procurement
The West of England Combined Authority (MCA) is seeking to launch a £100m Green Growth West Impact Fund (GGWIF) seed capitalized by the MCA with £10m as a cornerstone investor. GGWIF has been designed to assist with the tackling of ambitious goals set out in its 2023 Climate and Ecological Strategy and Action Plan, by generating significant environmental, social and economic impacts while preserving and amplifying the Combined Authority’s capital.
This MCA is seeking to procure an appropriately qualified and experienced AIFM to go to market and raise matching capital from significant external public and importantly, private investors, aiming at a 10x multiple of the Combined Authority’s impact.
The MCA requires the appointed AIFM to be able to demonstrate the following attributes as part of the procurement process:
A competitive / market standard fees and fund structure
A Track record (above the median/ top quartile for benchmark funds) of previous funds
A strong experienced proven management team
The ability to demonstrate evidence of a sound investment strategy with projected return (financial and impact) exceeding what would normally be expected in the sector context
A visible pipeline and clear origination strategy
Evidence of high quality performing underlying assets for existing funds
Evidence of access to a strong investor base and significant fund-raising experience
Evidence of strong governance and management systems in place
ESG / Impact reporting experience at a regulated fund reporting level
A commitment to work with the MCA Grant funded BBRC Investment Readiness Advisory Service (IRAS)
Interested parties should register at https://weca-atamis.my.site.com/s/Welcome to view documents and submit bids.
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: £600,000
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Start date
3 March 2025
End date
3 March 2038
This contract is subject to renewal
No
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
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: No
four.2) Administrative information
four.2.2) Time limit for receipt of tenders or requests to participate
Date
6 January 2025
Local time
12:00pm
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: 3 (from the date stated for receipt of tender)
four.2.7) Conditions for opening of tenders
Date
6 January 2025
Local time
12:00pm
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: No
six.4) Procedures for review
six.4.1) Review body
The West of England Combined Authority
70 Redcliff Street
Bristol
BS1 6AL
Country
United Kingdom
Internet address
https://www.westofengland-ca.gov.uk/about-us/contact-us/
six.4.2) Body responsible for mediation procedures
The West of England Combined Authority
70 Redcliff Street
Bristol
BS1 6AL
Country
United Kingdom
Internet address
https://www.westofengland-ca.gov.uk/about-us/contact-us/
six.4.4) Service from which information about the review procedure may be obtained
The West of England Combined Authority
70 Redcliff Street
Bristol
BS1 6AL
Country
United Kingdom