Published date: 17 September 2018

Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.


Closing: 18 October 2018

Contract summary

Industry

  • Financial and insurance services - 66000000

Location of contract

North East

Value of contract

£162,500

Procurement reference

NEF0018

Published date

17 September 2018

Closing date

18 October 2018

Contract start date

1 January 2019

Contract end date

30 June 2021

Contract type

Service contract

Procedure type

Restricted procedure (above threshold)

A two-stage procedure, where the first stage is used to select suppliers, who are then invited to bid in the second stage.

This procedure can be used for procurements above the relevant contract value threshold.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

North East Finance is seeking to appoint a fund management organisation to take over the management of the investment portfolio of NEF's Finance for Business North East Technology Fund from the current fund manager and, potentially, to manage other venture capital investments from within NEF's portfolio.

The successful bidder will become responsible for the Technology Fund (by taking ownership of the General Partner entity) and will be required to manage, and to realise value from, its portfolio and then to wind-up the Technology Fund, in the period from completion of the contract (targeted for 1 January 2019) to 30 June 2021 (which period may be extended by up to a year, to 30 June 2022).

For full details of the opportunity, including the OJEU Notice, draft Invitation to Tender and draft Fund Management Agreement, please see the latest news section of North East Finance's website:

http://www.northeastfinance.org/news-events/latest-news.aspx

More information

Attachments

Links

About the buyer

Contact name

Alastair Smith

Address

FIRST FLOOR 33 GREY STREET
NEWCASTLE-UPON-TYNE
NE16EE
England

Telephone

+441912112313

Email

alastair.smith@northeastfinance.org

Website

http://www.northeastfinance.org/news-events/latest-news.aspx