Official UK procurement notice
DfE - Invest NI - Management of Co-Fund I, II and III
Authority: Invest Northern Ireland (Central government)·Consortium: 2 public authorities
What is being bought
Published requirement descriptionInvest NI is seeking to appoint a fund manager to manage and deliver CIF III for a ten-year period with an option to extend for four periods of one year each. The initial ten-year term is split into a five year investment period, followed by a five year follow on and exit period. A legal contract, by way of a Limited Partnership Agreement (“LPA”) and a Management Services Agreement (“MSA”), will govern the ten-year contract to deliver CIF III and a draft LPA and MSA will be included in the tender documents.
CPV: Banking and investment services · Corporate finance and venture capital services · Financial and insurance services
The lotProcurement structure
single lot · value publishedLot #1AwardedRenewalPublished value£9,685,000
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).
Published sub-criteria (9)
- Personnel Recruitment: 4.6%
- Personnel Experience of Executive 1, 2 and 3: 15%
- Management of CIF III: 12.4%
- Marketing Strategy Development: 7.5%
- Venture Capital Development, Links to Private Investors Business Angel Development: 9.1%
- Engagement with Invest NI: 3.2%
- Governance: 3.2%
- General Partner’s share: 35%
- Social Value: 10%
Published award criteria (9)
- Personnel Recruitment: 4.6
- Personnel Experience of Executive 1, 2 and 3: 15
- Management of CIF III: 12.4
- Marketing Strategy Development: 7.5
- Venture Capital Development, Links to Private Investors Business Angel Development: 9.1
- Engagement with Invest NI: 3.2
- Governance: 3.2
- Social Value: 10
- General Partner’s share: 35
- Price carries 35 of 100 points: a 10% discount moves about 3.5 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
- 13 Aug 2024, 10:04 BST
- Last source update
- 25 Sept 2024, 16:21 BST
- Award evaluation window
- 12 Sept 2024 – …
- Authority reference
5163499- FTS notice number
2024/S 000-030663- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-048a2eFind a Tender
- Review procedure
CPD will comply with the Public Contracts Regulations 2015 and, where. appropriate, will incorporate a standstill period (i.e. a minimum of 10 calendar days) at the point information on the award of Framework. Agreement is communicated to tenderers. That notification will provide full information on the award decision. This provides time for the. unsuccessful tenderers to challenge the award decision before the framework Agreement is entered into.
Publisher note: The successful contractor’s performance on the contract will be regularly monitored in line with the tender documentation. Contractors.. not delivering on contract requirements is a serious matter. It means the public purse is not getting what it is paying for. If a contractor.. fails to reach satisfactory levels of contract performance they will be given a specified time to improve. If, after the specified time, they still.. fail to reach satisfactory levels of contract performance, the matter will be escalated to senior management in CPD for further action. If.. this occurs and their performance still does not improve to satisfactory levels within the specified period, it may be regarded as an act of.. grave professional misconduct and they may be issued with a Notice of Unsatisfactory Performance and the contract may be terminated... The issue of a Notice of Unsatisfactory Performance can result in the Contractor being excluded from all procurement competitions.. being undertaken by Centres of Procurement Expertise on behalf of bodies covered by the Northern Ireland Procurement Policy for a.. period of three years from the date of issue.. . The Authority expressly reserves the rights:. . (I). not to award any contract as a result of. the. procurement process commenced by publication of this notice;. (II). to make whatever changes it may see fit to the content and. structure. of the tendering Competition;. (III). to award (a) contract(s) in respect of any part(s) of the [services] covered by this notice; and.. (IV). to. award contract(s) in stages.. . and in no circumstances will the Authority be liable for any costs incurred by candidates
How it was run
Official notice- Submission deadline
- 12 Sept 2024, 15:00 BST
- Submission channel
- {"electronicSubmission","written"}
- Accepted languages
- en
- Bids opened
- 12 Sept 2024, 15:30 BST
Timeline
12 Sept 2024 → 11 Dec 2024 · 4 dates- Submission deadline12 Sept 2024, 15:00 BST
- Bids opened12 Sept 2024, 15:30 BST
- Notice published25 Sept 2024, 16:21 BST
- Bids must remain valid until11 Dec 2024, 23:59 GMT
Notice history
2 events · 2 releases on Find a Tender · since 25 Sept 2024- Status changed to complete25 Sept 2024, 16:21 BST
- Buyer details updated25 Sept 2024, 16:21 BST
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| CLARENDON FUND MANAGERS LIMITEDSMEINVEST NI: CO INVESTMENT FUND III (CIF III) | £7,628,724 † | — | Awarded |
Contracts
INVEST NI: CO INVESTMENT FUND III (CIF III) · CLARENDON FUND MANAGERS LIMITEDSME
- Signed
- 24 Sept 2024
- Value
- £7,628,724
- Status
- active
Bid statistics published by the authority
| Bids | SME | VCSE | Valid bid range |
|---|---|---|---|
| 1bids · 1 electronic · 1 from abroad | 1 | — | — |
Contracting authority & participating public bodies
2 public bodies on the noticeDispute resolution & review bodies
- The UK does not have any such bodies with responsibility for appeal/mediation procedures. Instead; any challenges are dealt with by the High Court, Commercial Division, to which proceedings may be issued regarding alleged breaches of the PCR 2015 as amendedReview body
Bidders & participating suppliers
1 commercial party on the notice- CLARENDON FUND MANAGERS LIMITEDAwarded supplier
Official documents & specifications (2)
Official links; attachments are not copiedTender pack and attachments
- Economic and financial selection criteria
- Technical selection criteria