Published date: 15 June 2017

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 16 January 2017

Contract summary

Industry

  • Financial and insurance services - 66000000

  • Miscellaneous business and business-related services - 79900000

Location of contract

West Midlands

Value of contract

£10,000,000 to £20,000,000

Procurement reference

PP16162/2

Published date

15 June 2017

Closing date

16 January 2017

Contract start date

19 June 2017

Contract end date

30 November 2028

Contract type

Service contract

Procedure type

Restricted procedure

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

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

LGPS Central Limited is seeking a provider to undertake depositary and custody services; registrar and transfer agency services; and administration services. The successful bidder will enter into one or more contracts to provide these services.

Information about LGPS Central:
Eight Local Government Pension Funds, all based in the Midlands, intend to create an investment pool. Which will see the creation of a multi asset investment pool of £35 billion. The Participating Funds in the LGPS Central Investment Pool are Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, West Midlands (including the West Midlands Integrated Transport Authority) and Worcestershire. The collaboration will aim to deliver cost savings and to build on the individual participating Funds' strong investment performances by providing scale, increased resilience, knowledge sharing and robust governance and decision making arrangements. Individual participating Funds will continue to retain their separate identities and local accountability. The collaboration will offer an equal say in the oversight of the new entity to each participating Fund. LGPS Central Limited is a company jointly owned by the participating local authorities and will be responsible for providing centralised administration services.

More information

Previous notice about this procurement

LGPS Central Depositary and Asset Services

  • Opportunity
  • Published 19 December 2016

Links

Additional text

LGPS Central Limited reserves the right to cancel the procurement process at any stage for any reason; to amend the terms and conditions; and/or to vary the scope of the services required and it shall not be liable to any bidder as a result of this action. All bidders are solely responsible for their costs and expenses incurred in connection with the preparation and submission of their proposal. Any agreement entered into will be governed by English and Welsh law and will be subject to the exclusive jurisdiction of the English Courts. The procurement process will have two stages. The first stage is a selection process to select a shortlist of up to four bidders. For the first stage bidders are required to complete a selection questionnaire and return using the e-tendering portal at www.wolverhamptontenders.com and searching for "PP16162 - LGPS Central Depositary and Asset Services". Bidders selected for the second stage will be required to submit a detailed proposal and negotiate with the authority. A preferred bidder will be selected by May 2017 and further negotiation will be undertaken to agree a final contract and pricing by the end of 2017.

Please allow sufficient time to submit your response via the e-tendering portal.

Award information

Awarded date

21 April 2017

Contract start date

19 June 2017

Contract end date

30 November 2028

Total value of contract

£50,000,000

This contract was awarded to 1 supplier.

Northern Trust

Address

50 Bank Street, Canary Wharf, London/ E14 5NTUnited

Reference

None

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Contact name

Jessica Prince

Address

Procurement
Wolverhampton City Council, Civic Centre
Wolverhampton
WV1 1RL
England

Telephone

01902555065

Email

jessica.prince@wolverhampton.gov.uk