Official UK procurement notice
Asset Class Modelling & Allocation Services
Authority: LONDON LGPS CIV LIMITED (Public body)
What is being bought
Published requirement descriptionLCIV wishes to procure data sets and modelling, scenario and risk analysis tools and related services which will be used to support the delivery of asset class modelling and allocation services to our Partner Funds, including advising on the appropriate risk profile for Partner Funds to take into account their strategic objectives and risk appetites. The data, tools and services must cover the full range of public and private market strategies used by the London Local Authority LGPS.
LCIV is inviting suppliers to bid their respective solutions, including proof-of-concept presentations which will enable bidders to demonstrate (and LCIV to evaluate) detailed functional capabilities of the proposed solutions, and the method of delivery of these solutions to the authority.
We anticipate that the appointed supplier will enter into a single agreement with LCIV for the provision of data and services and that such data and services will be allowed to be passed onto shared with our Partner Funds where they have a contractual agreement with LCIV for such services.
- How the procedure runs: The procurement will be structured into two key stages: a. Stage 1: Selection i. Applicants who have expressed an interest in the procurement will need to pre-qualify and must complete the Procurement Specific Questionnaire (PSQ) and have registered their details on the Central Digital Portal (CDP) within the Find a Tender portal. ii. The PSQ sets out the information required by the authority in order to assess the suitability of applicants to perform the Services as well as their economic and financial standing and technical and professional ability. iii. Tenders will be evaluated based on the bidder's written submission and proof of concept presentations. iv. LCIV reserves the right to limit the number of applicants that are invited to Stage 2 of the procurement to no more than 5 that have received the highest scores under section 3 of the PSQ. b. Stage 2: Invitation to Tender i. The Authority will issue an ITT to applicants that are shortlisted to Stage 2 following the evaluation of the PSQ responses. ii. A draft ITT will be made available to applicants on request via email during Stage 1 of the procurement for information only. Applicants must not respond to the draft ITT during Stage 1 of the procurement.
- No preliminary market engagement: Market engagement was light touch exercise to help shape the requirement, this service requirement has been brought about by regulatory change.
CPV: Financial market operational services
The lotProcurement structure
single lot · value publishedLot #1AwardedRenewalPublished value£2,700,000
- Condition of participationshortlisting
Previous track record of delivering similar services within a related sector.
What it takes to wini
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 morei
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).
- Ability to derive capital markets risk and return assumptions for the full range of public and private markets asset classes and to model and optimise these inputs
- Approach used to generate asset class assumptions and techniques used to model and optimise outputs under different scenarios.
- Experience and track record of delivering asset class modelling and allocation services to LGPS and other institutional investors
- Method of delivery of services to London CIV and its Partner Funds, and capacity to scale up the service to cover the full range of London CIV clients.
- Ability to incorporate climate scenarios and best practice in responsible investment into the asset allocation process.
- Cost of providing the services
- Condition of participationshortlisting
Previous track record of delivering similar services within a related sector.
Procedure terms & legal framework
From the official record- Procedure method
- Competitive flexible procedure
- Legal basis
- UKPGA · 2023/54 Procurement Act 2023
- Procurement category
- Services
- Notice status
- Awarded
- Procurement threshold
- Above threshold (FTS publication)
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Competitive procedure
- GPA / WTO covered
- Unspecified in notice
- Recurring procurement
- Unspecified in notice
- First published
- 31 Mar 2025, 11:12 BST
- Last source update
- 1 Aug 2025, 12:05 BST
- Award evaluation window
- Submission end – 23 Jun 2025
- Authority reference
P00125- FTS notice number
2025/S 000-011951- Latest notice
- Contract award notice (UK6)
- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-04fa80Find a Tender
- How it runs
The procurement will be structured into two key stages:
a. Stage 1: Selection
i. Applicants who have expressed an interest in the procurement will need to pre-qualify and must complete the Procurement Specific Questionnaire (PSQ) and have registered their details on the Central Digital Portal (CDP) within the Find a Tender portal.
ii. The PSQ sets out the information required by the authority in order to assess the suitability of applicants to perform the Services as well as their economic and financial standing and technical and professional ability.
iii. Tenders will be evaluated based on the bidder's written submission and proof of concept presentations.
iv. LCIV reserves the right to limit the number of applicants that are invited to Stage 2 of the procurement to no more than 5 that have received the highest scores under section 3 of the PSQ.
b. Stage 2: Invitation to Tender
i. The Authority will issue an ITT to applicants that are shortlisted to Stage 2 following the evaluation of the PSQ responses.
ii. A draft ITT will be made available to applicants on request via email during Stage 1 of the procurement for information only. Applicants must not respond to the draft ITT during Stage 1 of the procurement.
How it was run
Official notice- Requests to participate (first stage)
- 28 Apr 2025, 17:00 BST
- Submission deadline
- 28 Apr 2025, 17:00 BST
- Electronic submission
- Not allowed
- Accepted languages
- en
Enquiries and Submissions may only be made via email to the following address:
Timeline
31 Mar 2025 → 1 Jan 2026 · 7 dates- Tender notice published31 Mar 2025, 11:12 BST
- Submission deadline28 Apr 2025, 17:00 BST
- Award decision expected by23 Jun 2025, 23:59 BST
- Assessment summaries sent1 Aug 2025, 00:00 BST
- Latest notice published1 Aug 2025, 12:05 BST
- Standstill ends13 Aug 2025, 23:59 BST
- Contract starts293 days ago1 Jan 2026
Notice history
6 events · 3 releases on Find a Tender · since 31 Mar 2025- Tender notice published31 Mar 2025, 11:12 BSTUK4
- Tender notice published8 Apr 2025, 14:32 BSTUK4
- Contract award notice published1 Aug 2025, 12:05 BSTUK6
- Status changed to complete1 Aug 2025, 12:05 BST
- Procurement method changed1 Aug 2025, 12:05 BST
- Contract signature expected14 Aug 2025, 23:59 BSTscheduled
Published amendments (1)
Draft contract award form and contract terms published in downloads section.
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| Mercer1 Sept 2025 – 31 Aug 2028 · up to 31 Aug 2033Extensions: Subject to satisfactory delivery and continuing requirement for services. | £750,000 inc. VAT | 30 Jul 2025standstill to 13 Aug 2025 | Standstill |
Bid statistics published by the authority
| Bids | SME | VCSE | Valid bid range |
|---|---|---|---|
| 6final-stage tenders | 0 | 0 | — |
Contracting authority & participating public bodies
Bidders & participating suppliers
1 commercial party on the notice- MERCER LIMITEDAwarded supplier
Official documents & specifications (8)
Official links; attachments are not copiedTender pack and attachments
- Bidding documents and specifications
- Bidding documents and specifications Draft contract award form
- Bidding documents and specifications Mid-tier contract terms
- Bidding documents and specifications
- Bidding documents and specifications
Notices published for this procedure
- Contract award notice Contract award notice on Find a Tender
- Tender notice Tender notice on Find a Tender
- Tender notice Tender notice on Find a Tender