- Scope of the procurement
- Lot 1 - Order management system, Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI).
- Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
Section one: Contracting authority
one.1) Name and addresses
Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR0 2NA
Contact
Claire Lefort
Telephone
+44 8456002541
Country
United Kingdom
Region code
UKI62 - Croydon
Internet address(es)
Main address
https://ppf.bravosolution.co.uk
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
Order management, portfolio monitoring and risk analytics system
Reference number
CS0723 ecm_3590
two.1.2) Main CPV code
- 48000000 - Software package and information systems
two.1.3) Type of contract
Supplies
two.1.4) Short description
The Board of the Pension Protection Fund (PPF) is awarding a contract, tendered in accordance with the Public Contracts Regulations 2015 under the Competitive Procedure with Negotiation, to deliver the following systems which have been split into two lots:
Lot 1
• Order management system;
• Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI).
Lot 2
• Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
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: £74,025,496
two.2) Description
two.2.1) Title
Lot 1 - Order management system, Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI).
Lot No
1
two.2.2) Additional CPV code(s)
- 48000000 - Software package and information systems
two.2.3) Place of performance
NUTS codes
- UKI62 - Croydon
Main site or place of performance
Croydon and London
two.2.4) Description of the procurement
Lot 1 - Order management system, Portfolio monitoring & Risk analysis system (Matching portfolio and other internally managed portfolios, with specific emphasis on LDI).
two.2.5) Award criteria
Quality criterion - Name: Technical system requirements / Weighting: 85
Quality criterion - Name: Price / Weighting: 6
Quality criterion - Name: Price Sensitivity / Weighting: 6
Quality criterion - Name: Contract / Weighting: 3
Price - Weighting: 100
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
Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
Lot No
2
two.2.2) Additional CPV code(s)
- 48441000 - Financial analysis software package
two.2.3) Place of performance
NUTS codes
- UKI62 - Croydon
Main site or place of performance
Croydon and London
two.2.4) Description of the procurement
Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
two.2.5) Award criteria
Quality criterion - Name: Technical System Requirements / Weighting: 85
Quality criterion - Name: Price / Weighting: 6
Quality criterion - Name: Price Sensitivity / Weighting: 6
Quality criterion - Name: Contract / Weighting: 3
Price - Weighting: 100
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.2.14) Additional information
Lot 2 - Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Competitive procedure with negotiation
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: 2025/S 000-001014
Section five. Award of contract
Contract No
3590
Lot No
1
Title
Order management, portfolio monitoring and risk analytics system
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
29 July 2025
five.2.2) Information about tenders
Number of tenders received: 2
Number of tenders received from tenderers from other EU Member States: 2
Number of tenders received from tenderers from non-EU Member States: 2
Number of tenders received by electronic means: 2
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
BlackRock Financial Management, Inc
BlackRock’s global headquarters: 50 Hudson Yards, New York, NY 10001, United States.
New York
NY 10001
Country
United States
NUTS code
- US - United States
National registration number
2446204
Internet address
The contractor is an SME
No
five.2.4) Information on value of contract/lot (excluding VAT)
Total value of the contract/lot: £74,025,496
Section five. Award of contract
Contract No
3590
Lot No
2
Title
Portfolio monitoring and risk analysis system (Growth portfolio, with specific emphasis on Private Markets)
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
29 July 2025
five.2.2) Information about tenders
Number of tenders received: 4
Number of tenders received from tenderers from non-EU Member States: 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
BlackRock Financial Management, Inc
BlackRock’s global headquarters: 50 Hudson Yards, New York, NY 10001, United States. BlackRock’s primary European office: Drapers Gardens, 12 Throgmorton Avenue, London EC2N 2DL England.
New York
NY 10001
Country
United States
NUTS code
- US - United States
National registration number
2446204
Internet address
The contractor is an SME
No
five.2.4) Information on value of contract/lot (excluding VAT)
Total value of the contract/lot: £74,025,496
Section six. Complementary information
six.3) Additional information
The contract is awarded for an initial term of five years, with the option to extend for up to an additional five years, resulting in a maximum potential duration of ten years. For the purposes of this notice, the total estimated contract value across Lots 1 and 2 over the full ten-year term is projected to range between £48,766,000 and £74,025,496. This range reflects both fixed and variable fees, which are influenced by the total assets under management by the PPF. As such, the final value may vary. These figures are based on long-term projections and should be considered indicative, given the ten-year forecasting horizon.
The PPF is continually developing its business within a changing market, and it is envisaged that there may be future requirements for further services within the scope of the investment management area; for example, fund accounting, support for additional asset classes or investment strategies, and any such requirements that are complementary or required to support the delivery of the system.
The additional services that may be included over the life of the contract may result in a price revision of the original contract and/or may significantly increase or decrease the fees paid in relation to these services. Similarly, there are variable volume related fees associated with the services, if there were to be an increase, or decrease in the volume of assets managed by the PPF, or an amendment in the number of users or types of assets managed this would also lead to a price revision of the original contract and/or may result in a change to the fees paid in relation to these services. The Board makes no guarantee as to the nature and extent of such services or the potential change in assets under management over the course of the contract term, this known, unknown value cannot be reliably predicted at this stage.
six.4) Procedures for review
six.4.1) Review body
The Board of the Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR20 2NA
Country
United Kingdom
six.4.2) Body responsible for mediation procedures
The Board of the Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR20 2NA
Country
United Kingdom
six.4.4) Service from which information about the review procedure may be obtained
The Board of the Pension Protection Fund
Renaissance, 12 Dingwall Road
Croydon
CR20 2NA
Country
United Kingdom