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Published 18 Mar 2024, 09:46 GMT

Official UK procurement notice

ACCESS Pool Authorised Contractual Scheme Operator

Official notice

Authority: Hampshire County Council (Local council)·Consortium: 12 public authorities

ServicesOpen procedure
Sectors: Financial and insurance services (66) Delivery: East Midlands (UKF24)East of England (UKH12)South East (UKJ22)
Published estimate£80,000,000exc. VAT
Submissions closed 10 May 2024awarded 1 Dec 2024
Awarded to Waystone Management (UK) Limited

What is being bought

Published requirement description

Hampshire County Council (the Authority) is procuring this requirement on behalf of the ACCESS Pool of LGPS Pensions.

ACCESS is seeking a suitably experienced, knowledgeable and skilled organisation, with the appropriate regulatory registrations, to fulfil the role of the FCA regulated company which undertakes selection, appointment, dismissal and variation of terms of investment managers, and provides and operates pool vehicles for Administering Authorities in the ACCESS Pool.

The Authorised Contractual Scheme (ACS) is an authorised contractual scheme in co-ownership form and authorised by the Financial Conduct Authority (FCA) with effect from 9 August 2018. The ACS has an unlimited duration

The ACCESS Pool is a collaboration of 11 like-minded Local Government Pension Scheme

Authorities, investing the pensions of over one million members, delivering strong

investment performance, achieving greater cost efficiency and benefiting from the best of

local authority procurement. Further information regarding the ACCESS Pool can be found

here: www.accesspool.org ↗.

CPV: Pension fund management services · Pension investment services · Pension services

The lotProcurement structure

single lot · value published
Lot #1Hampshire County Council is undertaking this procurement on behalf of the ACCESS Pool…AwardedPublished value£80,000,000

Hampshire County Council is undertaking this procurement on behalf of the ACCESS Pool of LGPS Pension Funds.

The procurement will follow a single stage, Open Tender process for the appointment of a the ACS Operator.

The Operator Agreement will run for a term of up to 10 years, subject to review in the 5th year.

Tenderers should note that the Estimated Value provided in this notice is an estimate of fees payable over the life of the contract based on current and anticipated AuM growth over the life of the contract. The actual fees payable will depend on these and other relevant factors applicable over the course of the contract. This amount should not be taken as a guaranteed value or payment.

Full details of the requirement can be found in the Specification at Annex 1 of the ITT

documentation by registering within Hampshire's instance of the In-Tend e-procurement

platform at the following URL: in-tendhost.co.uk/hampshire/aspx/Home ↗

Delivery: East Midlands, East of England, South East
Extensions: The Operator Agreement will run for an initial term of 5 years with the option, following satisfactory review, to continue for a further 5 years.Variant bids: not allowed
66131100 Pension investment services66520000 Pension services

What it takes to win
i

How this buyer will score bids.

The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).

Evaluation split and conditions of participation as published; the tender pack may add more
How bids were scored
Quality: 80%Price: 20%
Published sub-criteria (6)
  • People & Organisation: 16%
  • Scheme Management: 16%
  • Reporting: 16%
  • Third Party Management, Due Diligence & Value for Money: 16%
  • Contract Onboarding: 16%
  • price: 20%
Published award criteria (7)
  • Method Statements: Pass / Fail
  • People & Organisation: 16%
  • Scheme Management: 16%
  • Reporting: 16%
  • Third Party Management, Due Diligence & Value for Money: 16%
  • Contract Onboarding: 16%
  • Price: 20%
Conditions of participation1
  • Suitability

    As set out in the procurement documents.

What this means for your bid
  • Price carries 20 of 100 points: a 10% discount moves about 2 points. The method statement decides this lot, not the discount.

Price arithmetic assumes straight proportional scoring; the tender pack may use another formula.

Procedure terms & legal framework

From the official record · publisher note attached
Procedure method
Open procedure
Legal basis
CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
Procurement category
Services
Notice status
Awarded
Procurement threshold
Unspecified in notice
Regulatory regime
Standard
Commercial structure
Stand-alone contract (no framework)
Competition type
Competitive procedure
GPA / WTO covered
Yes (GPA)
Recurring procurement
No (one-off requirement)
First published
18 Mar 2024, 09:46 GMT
Last source update
12 Dec 2024, 16:33 GMT
Award evaluation window
10 May 2024 – …
Authority reference
EX21332
FTS notice number
2024/S 000-040158
Classification (CPV)
Pension fund management servicesPension investment servicesPension services
Delivery area
East Midlands (UKF24)East of England (UKH12)South East (UKJ22)
Official registry OCID
ocds-h6vhtk-0449ad Find a Tender
Contract terms
Electronic trading
e-invoicing allowed · electronic payment

Publisher note: The stated contract value is an estimate of fees payable over the life of the contract based on current and anticipated AuM growth over the life of the contract and the successful tenderer's submitted fees. The actual fees payable will depend on these and other relevant factors applicable over the course of the contract. This amount should not be taken as a guaranteed value or payment.

How it was run

Official notice
Run through: In-tend · Who buys & how to bid on In-tend
Supplier login requiredLanguage: EN
Access & registration note: Free · one account per buying organisation's portal · reCAPTCHA on signup
Submission deadline
10 May 2024, 14:00 BST
Submission channel
{"electronicSubmission"}
Accepted languages
en
Bids opened
10 May 2024, 15:00 BST
Detailed submission instructions & authority contactsFrom official release

in-tendhost.co.uk/hampshire/aspx/Home ↗

Timeline

10 May 2024 → 12 Dec 2024 · 4 dates
  1. Submission deadline
    10 May 2024, 14:00 BST
  2. Bids opened
    10 May 2024, 15:00 BST
  3. Bids must remain valid until
    22 Nov 2024, 23:59 GMT
  4. Notice published
    12 Dec 2024, 16:33 GMT

Notice history

1 event · 2 releases on Find a Tender
  1. Status changed to complete
    12 Dec 2024, 16:33 GMT

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast
Awards 1
Awarded value £80,000,0001 contract exc. VAT
Bids received 2
Contracts signed 1latest 1 Dec 2024
Awarded toValueDateStatus
Waystone Management (UK) Limited£80,000,000 †—Awarded

Contracts

Bid statistics published by the authority

BidsSMEVCSEValid bid range
2bids———

Contracting authority & participating public bodies

11 public bodies on the notice

HAMPSHIRE COUNTY COUNCIL

Contracting authorityLocal CouncilRegional or local authorityGeneral public services The Castle, WINCHESTER, South East, SO238ZBContact name, email, phone Published organisation website ↗

Consortium members and other public bodies

Dispute resolution & review bodies

  • High Court of England & WalesReview body London
  • High Court of England and WalesReview body London

Bidders & participating suppliers

1 commercial party on the notice

Official documents & specifications (2)

Official links; attachments are not copied

Tender pack and attachments

  • Economic and financial selection criteriatenderEconomic and financial selection criteria
  • Technical selection criteriatenderTechnical selection criteria