Official UK procurement notice
Asset Servicing for Private Markets
Authority: LGPS CENTRAL LIMITED (Public body)
What is being bought
Published requirement descriptionProvision of transaction processing, cash settlement, investment look through reporting and maintenance of IBOR for three partner funds.
Please note: The standstill period detailed in the previous Contract Award Notice does not apply to this contract award and was included only to resolve the technical issue identified below. The Contracting Authority is relying on the direct award ground set out in paragraph 13 of Schedule 5 to the Procurement Act 2023 (urgency) (as more fully explained in the associated Transparency Notice published on 18 June 2026) in respect of this contract award. In accordance with s.51(3)(a) of the Act, the Contracting Authority is not required observe a standstill period. Notwithstanding that a standstill period was included in the earlier Contract Award Notice, it does not apply and is not a voluntary standstill period for the purposes of s.51(4) of the Act.
The Contracting Authority has been advised there is a technical error within Find a Tender and currently Contract Award Notices can only be published if a standstill period is stated, which in this scenario as explained above, is not a mandatory requirement. Therefore the standstill period detailed in the related Contract Award Notice should be disregarded and does not apply as the Contracting Authority is not entering into a standstill period.
The lotProcurement structure
single lot · no lot value publishedLot #1Awarded
Procedure terms & legal framework
From the official record- Procedure method
- Direct award
- Legal basis
- UKPGA · 2023/54 Procurement Act 2023
- Notice status
- Awarded without competition
- Procurement threshold
- Unspecified in notice
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Direct award (no call for competition)
- GPA / WTO covered
- Unspecified in notice
- Recurring procurement
- Unspecified in notice
- First published
- 18 Jun 2026, 12:41 BST
- Last source update
- 19 Jun 2026, 14:39 BST
- FTS notice number
2026/S 000-058151- Latest notice
- Contract details notice (UK7)
- Delivery area
- Official registry OCID
ocds-h6vhtk-06b802Find a Tender
- Why no open competition
- Urgency
- Published justification
Due to the nature and pace of recent LGPS pension pooling reform, approval of the Partner Funds joining LGPS Central Limited was only officially made on 1st April 2026 and therefore the requirement for continuation of essential services from AssetMetrix, in respect of three of the Partner Funds joining from another pool, was unforeseen.
The admission date of 1st of April 2026 date for the new Partner Funds has not allowed sufficient time for a competitive procurement process to be undertaken and for the on-boarding of data ahead of the commencement of the complex and essential services in question (being transaction processing, cash settlement, investment look through reporting, and maintenance of investment book of records for the three Partner Funds joining from another pool). The scope of these services is strictly necessary and essential to meet our obligations as an asset pooling company.
The contract period has been selected to enable us to ensure the essential services can continue for a minimum of 12 months and then align with the re-procurement of a much wider package of services which is expected to include the services detailed in this transparency notice. It is envisaged this re-procurement will commence in quarter 3 2027.
On the basis of the above, these services are deemed as strictly necessary, and for the reasons of extreme and unavoidable urgency, a direct award is justified.
How it was run
Official notice- Submission deadline
- —
Timeline
19 Jun 2026 → 30 Jun 2026 · 2 dates- Notice published123 days ago19 Jun 2026, 14:39 BST
- Standstill ends112 days ago30 Jun 2026, 23:59 BST
Notice history
4 events · 3 releases on Find a Tender · since 18 Jun 2026- Transparency notice published18 Jun 2026, 12:41 BSTUK5
- Contract award notice published19 Jun 2026, 13:32 BSTUK6
- Contract details notice published19 Jun 2026, 14:39 BSTUK7
- Contract signature expected1 Jul 2026, 23:59 BSTscheduled
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| AssetMetrix GmbHSME1 Jul 2026 – 30 Jun 2027 · up to 30 Sept 2028Extensions: Following the initial 12 month contract period, extensions each of a six month duration are available, with the final extension not to exceed more than a 27 month maximum contract duration. | £1,150,200 inc. VAT | 27 May 2026 | Awarded |
Contracts
Contract 1 · AssetMetrix GmbHSME
- Signed
- 19 Jun 2026
- Value
- £1,150,200 inc. VAT
- Period
- 1 Jul 2026 – 30 Jun 2027 · up to 30 Sept 2028 with extensions
- Status
- active
- Extensions
- Following the initial 12 month contract period, extensions each of a six month duration are available, with the final extension not to exceed more than a 27 month maximum contract duration.
No agreed KPIs: Not set as contract value below £5 million and relatively short term in nature.
Contracting authority & participating public bodies
Bidders & participating suppliers
1 commercial party on the notice- AssetMetrix GmbHAwarded supplier
Official documents & specifications (3)
Official links; attachments are not copiedNotices published for this procedure
- Contract details notice Contract details notice on Find a Tender
- Contract award notice Contract award notice on Find a Tender
- Transparency notice Transparency notice on Find a Tender