Published date: 5 September 2024
This notice was replaced on 2 December 2024
This notice does not contain the most up-to-date information about this procurement. The most recent notice is:
Awarded contract (published 2 December 2024)
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.
Contract summary
Industry
Legal services - 79100000
Location of contract
NE8 3DF
Value of contract
£60,000
Procurement reference
NEA2F/045
Published date
5 September 2024
Closing date
10 October 2024
Closing time
12pm
Contract start date
1 November 2024
Contract end date
31 October 2027
Contract type
Service contract
Procedure type
Open procedure (below threshold)
Any interested supplier may submit a tender in response to an opportunity notice.
This procedure can be used for procurements below the relevant contract value threshold.
Contract is suitable for SMEs?
No
Contract is suitable for VCSEs?
No
Description
We are inviting law firms to tender to provide legal services to NEA2F and its group companies including North East Finance Holdco Limited. We will need a mixture of general commercial advice and more specialised advice relating to public sector investment funds.
Details of the application process and the full specification of requirements are set out in the Invitation to Tender document.
This is a sub-threshold procurement for a three year contract, commencing November 2024. The contract term could be extended, but we will have the right to terminate on three months' notice. We reserve the right to procure other legal support if necessary.
NEA2F's remit includes:
• Stewardship of returns from publicly backed investment funds in North East England, including overseeing fund realisations.
• Working with stakeholders and policy makers to provide a co-ordinated strategy on Access to Finance in North East England.
• Planning and supporting the implementation of new funds to ensure continuity of provision in the region.
• Overseeing the re-deployment of legacy returns from investment funds in the region into new funds and initiatives to support SMEs.
The group includes North East Finance Holdco Limited, the holding fund manager for the Finance for Business North East Fund. This fund invested £160m in SMEs across North East England and our focus is now on realising these investments and generating a cash legacy to fund future investment programmes.
About the buyer
Contact name
James Arkless
Address
3rd Floor, Baltimore House
Abbots Hill
Gateshead
NE8 3DF
England
Telephone
0191 499 8552
Website
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