Section one: Contracting authority/entity
one.1) Name and addresses
BRUNEL PENSION PARTNERSHIP LIMITED
5th Floor 101 Victoria Street
Bristol
BS16PU
Country
United Kingdom
Region code
UKK11 - Bristol, City of
Companies House
10429110
Internet address(es)
Main address
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
LGPS Multi Provider Framework for the Provision of Stewardship Services
two.1.2) Main CPV code
- 66520000 - Pension services
two.1.3) Type of contract
Services
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKK - South West (England)
two.2.4) Description of the procurement at the time of conclusion of the contract:
The contract was awarded to Hermes Equity Ownership Services Limited ("Hermes") under the National LGPS Framework Agreement. The scope of the contract includes the provision of stewardship and responsible investment services to support the administering authority's obligations under the LGPS Regulations. These services include engagement with investee companies, proxy voting, and reporting on environmental, social, and governance (ESG) matters.
two.2.7) Duration of the contract, framework agreement, dynamic purchasing system or concession
Duration in months
48
Section four. Procedure
four.2) Administrative information
four.2.1) Contract award notice concerning this contract
Notice number: 2025/S 000-078849
Section five. Award of contract/concession
Contract No
1-VR-03112025
five.2) Award of contract/concession
five.2.1) Date of conclusion of the contract/concession award decision:
1 December 2021
five.2.2) Information about tenders
The contract/concession has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor/concessionaire
Hermes Equity Ownership Services Limited
150 Cheapside
London
EC2V 6ET
Country
United Kingdom
NUTS code
- UKI - London
Companies House
05167179
The contractor/concessionaire is an SME
No
five.2.4) Information on value of the contract/lot/concession (at the time of conclusion of the contract;excluding VAT)
Total value of the procurement: £850,000
Section six. Complementary information
six.4) Procedures for review
six.4.1) Review body
Brunel Pension Partnership Limited
Bristol
Country
United Kingdom
Section seven: Modifications to the contract/concession
seven.1) Description of the procurement after the modifications
seven.1.1) Main CPV code
- 66520000 - Pension services
seven.1.3) Place of performance
NUTS code
- UKK - South West (England)
seven.1.4) Description of the procurement:
A contract was awarded to Hermes under the National LGPS Framework for the provision of stewardship services, including engagement with issuers and voting recommendations.
seven.1.5) Duration of the contract, framework agreement, dynamic purchasing system or concession
Duration in months
48
seven.1.6) Information on value of the contract/lot/concession (excluding VAT)
Total value of the contract/lot/concession:
£850,000
seven.1.7) Name and address of the contractor/concessionaire
Hermes Equity Ownership Services Limited
150 Cheapside
London
EC2V 6ET
Country
United Kingdom
NUTS code
- UKI - London
Companies House
05167179
The contractor/concessionaire is an SME
No
seven.2) Information about modifications
seven.2.1) Description of the modifications
Nature and extent of the modifications (with indication of possible earlier changes to the contract):
Brunel Pension Partnership Limited ("Brunel") are extending the contract with Hermes under the justification listed below for the provision of engagement and voting provider services which expires on 1 December 2025. This is as a direct result of the government's announcement in May 2025 on pooling consolidation. Brunel intends to extend this contract on the same terms to Hermes under Regulation 72(1)(c) of the Public Contract Regulations 2015.
seven.2.2) Reasons for modification
Need for modification brought about by circumstances which a diligent contracting authority/entity could not foresee.
Description of the circumstances which rendered the modification necessary and explanation of the unforeseen nature of these circumstances:
Brunel have extended its existing contract with Hermes for the provision of stewardship services in accordance with Regulation 72(1)(c) on the grounds of strict necessity due to the government's announcement in May 2025 regarding pooling consolidation, which has created an urgent need to maintain continuity of stewardship services across Brunel's pooled assets. Brunel does not believe that any other single provider can deliver the breadth of required services within the necessary timeframe without causing significant operational and governance risks to the business. The services provided by Hermes are integral to Brunel's responsible investment strategy and stewardship obligations, and any disruption would materially impact Brunel's ability to meet its fiduciary and regulatory duties.
The scope and terms of the contract with the incumbent remain unchanged as a result of the contract extension.
seven.2.3) Increase in price
Updated total contract value before the modifications (taking into account possible earlier contract modifications, price adaptions and average inflation)
Value excluding VAT: £850,000
Total contract value after the modifications
Value excluding VAT: £1,062,500