- Lot 1. LOT 1 Strategic investment business, organisational strategy and governance advice
- Lot 2. LOT 2 Target Operating Model design and delivery including the transition and implementation of operating models for fund administration and custody service including additional SME operational support as needed
- Lot 3. Specialist investment consultancy services to large Financial Conduct Authority (FCA) regulated occupational pension schemes (OPS
Scope
Reference
TEN 2526-011(PA2023)
Description
Nest is on a path to becoming one of the largest pensions schemes in the UK and our growth trajectory means that the operating model for Nest Invest will need to evolve over the next ten years.
In order to support the continued strategic growth and development of the investment function Nest Invest will require ongoing specialist consultancy support for the development of the organisational model and development of the investment approach.
Commercial tool
Establishes a framework
Lot 1. LOT 1 Strategic investment business, organisational strategy and governance advice
Description
Strategic investment business, organisational strategy and governance advice with extensive proven experience of international investment best practice with large Financial Conduct Authority (FCA) regulated Occupational Pension Schemes (OPS) with assets under management of £25 billion and above
Lot 2. LOT 2 Target Operating Model design and delivery including the transition and implementation of operating models for fund administration and custody service including additional SME operational support as needed
Description
Target Operating Model design and delivery including the transition and implementation of operating models for fund administration and custody service including additional SME operational support as needed to large Financial Conduct Authority (FCA) regulated Occupational Pension Schemes (OPS) (or similar) with assets under management of £25 billion and above. 35
Lot 3. Specialist investment consultancy services to large Financial Conduct Authority (FCA) regulated occupational pension schemes (OPS
Description
Specialist investment consultancy services to large Financial Conduct Authority (FCA) regulated occupational pension schemes (OPS) with assets under management of £25 billion and above
Contract 1. 1 Strategic investment business, organisational strategy and governance advice
Lots
Lot 1. LOT 1 Strategic investment business, organisational strategy and governance advice
Supplier
Contract value
- £10,000,000 excluding VAT
- £12,000,000 including VAT
Framework lot values may be shared with other lots
Above the relevant threshold
Award decision date
18 August 2025
Date assessment summaries were sent to tenderers
27 August 2025
Standstill period
- End: 9 September 2025
- 8 working days
Earliest date the contract will be signed
11 September 2025
Contract dates (estimated)
- 11 September 2025 to 10 September 2029
- 4 years
Main procurement category
Services
CPV classifications
- 66170000 - Financial consultancy, financial transaction processing and clearing-house services
Contract locations
- UKC - North East (England)
- UKD - North West (England)
- UKE - Yorkshire and the Humber
- UKF - East Midlands (England)
- UKG - West Midlands (England)
- UKH - East of England
- UKI - London
- UKJ - South East (England)
- UKK - South West (England)
Contract 2
Lots
Lot 2. LOT 2 Target Operating Model design and delivery including the transition and implementation of operating models for fund administration and custody service including additional SME operational support as needed
Supplier
Contract value
- £1,000,000 excluding VAT
- £1,200,000 including VAT
Framework lot values may be shared with other lots
Above the relevant threshold
Award decision date
18 August 2025
Date assessment summaries were sent to tenderers
27 August 2025
Standstill period
- End: 9 September 2025
- 8 working days
Earliest date the contract will be signed
11 September 2025
Contract dates (estimated)
- 11 September 2025 to 10 September 2029
- 4 years
Main procurement category
Services
CPV classifications
- 66171000 - Financial consultancy services
Contract locations
- UKI - London
Contract 3
Lots
Lot 3. Specialist investment consultancy services to large Financial Conduct Authority (FCA) regulated occupational pension schemes (OPS
Supplier
Contract value
- £10,000,000 excluding VAT
- £12,000,000 including VAT
Framework lot values may be shared with other lots
Above the relevant threshold
Award decision date
18 August 2025
Date assessment summaries were sent to tenderers
27 August 2025
Standstill period
- End: 9 September 2025
- 8 working days
Earliest date the contract will be signed
11 September 2025
Contract dates (estimated)
- 11 September 2025 to 10 September 2029
- 4 years
Main procurement category
Services
CPV classifications
- 66171000 - Financial consultancy services
Contract locations
- UKI - London
Information about tenders
Lot 1. LOT 1 Strategic investment business, organisational strategy and governance advice
- 1 tender received
- 1 tender assessed in the final stage:
- 1 submitted by small and medium-sized enterprises (SME)
- 0 submitted by voluntary, community and social enterprises (VCSE)
- 1 supplier awarded contracts
- 0 suppliers unsuccessful (details included for contracts over £5 million)
Lot 2. LOT 2 Target Operating Model design and delivery including the transition and implementation of operating models for fund administration and custody service including additional SME operational support as needed
- 2 tenders received
- 2 tenders assessed in the final stage:
- 0 submitted by small and medium-sized enterprises (SME)
- 0 submitted by voluntary, community and social enterprises (VCSE)
- 1 supplier awarded contracts
- 1 supplier unsuccessful (details included for contracts over £5 million)
Lot 3. Specialist investment consultancy services to large Financial Conduct Authority (FCA) regulated occupational pension schemes (OPS
- 8 tenders received
- 7 tenders assessed in the final stage:
- 2 submitted by small and medium-sized enterprises (SME)
- 0 submitted by voluntary, community and social enterprises (VCSE)
- 1 supplier awarded contracts
- 6 suppliers unsuccessful (details included for contracts over £5 million)
Unsuccessful suppliers
Procedure
Procedure type
Open procedure
Suppliers
ALPHA FINANCIAL MARKETS CONSULTING UK LIMITED
- Companies House: 04710715
- Public Procurement Organisation Number: PRNG-1778-PVXJ
60 Gresham Street, London, EC2V 7BB, UK Postal address
London
EC2V 7BB
United Kingdom
Email: joseph.sproul@alphafmc.com
Region: UKI31 - Camden and City of London
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
Supported employment provider: No
Public service mutual: No
Contract 2
Aon Investments Limited
- Companies House: 5913591
- Public Procurement Organisation Number: PQPY-9576-LTNP
122 Leadenhall Street, London, EC3V 4AN , UK
London
EC3V 4AN
United Kingdom
Region: UKI31 - Camden and City of London
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
AVIDA INTERNATIONAL ORGANISATIONAL PERFORMANCE & GOVERNANCE LIMITE
- Companies House: 08731995
- Public Procurement Organisation Number: PVLV-3184-JPHZ
1 Fore Street Avenue,
London
EC2Y 9DT
United Kingdom
Email: info@avida-int.com
Region: UKI31 - Camden and City of London
Small or medium-sized enterprise (SME): Yes
Voluntary, community or social enterprise (VCSE): No
Supported employment provider: No
Public service mutual: No
Contract 1. 1 Strategic investment business, organisational strategy and governance advice
BFINANCE UK LIMITED
- Companies House: 03950214
2nd Floor, 36 Queen Street
London
EC4R 1BN
United Kingdom
Website: http://www.bfinance.com
Region: UKI31 - Camden and City of London
Small or medium-sized enterprise (SME): Yes
Voluntary, community or social enterprise (VCSE): No
HYMANS ROBERTSON LLP
- Companies House: OC310282
- Public Procurement Organisation Number: PYMN-5522-MWDX
One London Wall
London
EC2Y 5EA
United Kingdom
Region: UKI31 - Camden and City of London
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
Isio Group Limited
- Companies House: 12273083
10 Norwich Street
London
EC4A 1BD
United Kingdom
Region: UKI31 - Camden and City of London
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
MERCER LIMITED
- Companies House: 00984275
- Public Procurement Organisation Number: PCZX-4442-DMXV
1 Tower Place West
London
EC3R 5BU
United Kingdom
Website: https://www.mercer.com/
Region: UKI31 - Camden and City of London
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
REDINGTON LIMITED
- Companies House: 06660006
- Public Procurement Organisation Number: PBGZ-9747-WBVL
1 Angel Court
London
EC2R 7HJ
United Kingdom
Website: https://redington.co.uk/
Region: UKI31 - Camden and City of London
Small or medium-sized enterprise (SME): Yes
Voluntary, community or social enterprise (VCSE): No
TOWERS WATSON LIMITED
- Companies House: 05379716
- Public Procurement Organisation Number: PCQM-4544-RGMV
Watson House, London Road
Reigate
RH2 9PQ
United Kingdom
Email: andrew.doyle@wtwco.com
Region: UKJ26 - East Surrey
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
Supported employment provider: No
Public service mutual: No
Contract 3
Contracting authority
National Employment Savings Trust (NEST) Corporation
- Public Procurement Organisation Number: PQGC-5667-VDDT
10 South Colonnade, Canary Wharf,
London
E14 4PU
United Kingdom
Region: UKI42 - Tower Hamlets
Organisation type: Public authority - central government