Published date: 30 August 2016

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


Closing: 21 July 2016

Contract summary

Industry

  • Legal services - 79100000

Location of contract

West Midlands

Value of contract

£247,887.50

Procurement reference

PPX16047

Published date

30 August 2016

Closing date

21 July 2016

Contract start date

22 August 2016

Contract end date

31 March 2018

Contract type

Not specified

Procedure type

Other:

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

In response to the Government's criteria for pooling assets, Local Government Pension Scheme (LGPS) Central has decided to build a Collective Investment Vehicle (CIV) structure to pool investments.

The CIV model will include an Operator, which will be incorporated as a private company. The Operator will also be set-up as an alternative investment fund manager (AIFM) and regulated by the Financial Conduct Authority (FCA). The Operator will manage a Pool containing a number of vehicles, including an Authorised Contractual Scheme (ACS) and other vehicles (e.g. limited partnerships), yet to be confirmed.

A Shareholders' Forum (consisting of the Pensions Committee Chairs of the participating authorities) will act as the Supervisory Body of the Operator. A Practitioners' Advisory Forum (consisting of Pension Fund Officers) will support the Shareholders' Forum and act as the day-to-day liaison between the Shareholders' Forum and the Operator.

The deadline for the establishment of the outlined structure is 1st April 2018. As such, LGPS Central is now seeking advice and hands-on implementation support and delivery as set out below.

Summary Requirements:
Support LGPS Central in the delivery, by 1st April 2018, of:-

1. The establishment of the Operator and Pool Vehicles, including FCA registration
2. The Governance and target operating model
3. The procurement of an Asset Servicer, advisors, auditors, bankers
4. Tax advice for both the Operator and Pool Vehicles

More information

Additional text

On behalf of West Midlands Pension Fund.

Award information

Awarded date

24 August 2016

Contract start date

22 August 2016

Contract end date

31 March 2018

Total value of contract

£247,887.50

This contract was awarded to 1 supplier.

Eversheds LLP

Address

115 Colmore Row
Birmingham
B3 3AL

Reference

None

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Address

Civic Centre
St. Peter's Square
Wolverhampton
WV1 1RL
England

Email

tenders@wolverhampton.gov.uk