Investment Risk System and Climate Risk Data Services

{
  "id": "023506-2022",
  "tag": [
    "award",
    "contract"
  ],
  "bids": {
    "statistics": [
      {
        "id": "1",
        "value": 1,
        "measure": "bids",
        "relatedLot": "1"
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  },
  "date": "2022-08-23T15:43:25+01:00",
  "ocid": "ocds-h6vhtk-03622c",
  "buyer": {
    "id": "GB-COH-09835244",
    "name": "LOCAL PENSIONS PARTNERSHIP INVESTMENTS LTD"
  },
  "awards": [
    {
      "id": "023506-2022-1",
      "status": "active",
      "suppliers": [
        {
          "id": "GB-COH-03981254",
          "name": "MSCI Inc, MSCI Limited and affiliates"
        }
      ],
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  "tender": {
    "id": "ocds-h6vhtk-03622c",
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        "status": "cancelled",
        "hasOptions": false,
        "description": "LPPI requires an Investment Risk System to develop best practice internally and externally with regards to reporting and decision support and the provision of relevant security/asset climate change data and tools to assist LPPI to comply with the IIGCC Asset Manager Net Zero Framework and the Task Force on Climate-related Financial Disclosures (TCFD). \nThe contract has been awarded to MSCI under regulation 32(2)(b)(ii) of the Public Contracts Regulations 2015 because competition is absent for technical reasons. LPPI considers MSCI to be the only provider that is able to meet all of LPPI's minimum requirements, which include but are not limited to an Investment Risk System that: \n1.\tprovides coverage for all of LPPI's asset classes, including private assets (without simply proxying to public market instruments) and compatibility with Barra's Real Estate Portal;\n2.\thas a liquidity model, that can provide liquidity ladders and also is compliant with ESM Liquidity Stress Testing requirements;\n3.\tprovides AIFMD reporting as a managed service, driven by the positions loaded into the Risk system;\n4.\tprovides exposure reporting for all asset classes;\n5.\thas the ability to add an unlimited amount of user data and categorisations to positions;\n6.\thas the ability to create user defined, calculated metrics for reporting purposes;\n7.\thas all three types of VaR model (Parametric, Historical and Monte-Carlo) and can incorporate fat tails into the VaR methodology;\n8.\tprovides stress testing of:\na.\thistorical scenarios\nb.\thypothetical scenarios (correlated and uncorrelated)\n9.\tsubject to licencing, has the ability to load all of LPPI's fund risk and performance benchmarks; and\n10.\tcan represent the LPPI fund view as well as the client view including their balance sheet assets; and\n11.\tcan support climate change data and tools that effectively work alongside risk management data and tools.",
        "awardCriteria": {
          "criteria": [
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              "name": ".",
              "type": "quality",
              "description": "."
            },
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    "items": [
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        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UK"
          }
        ]
      }
    ],
    "title": "Investment Risk System and Climate Risk Data Services",
    "status": "complete",
    "coveredBy": [
      "GPA"
    ],
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "description": "Local Pensions Partnership Investments (\"LPPI\") requires an Investment Risk System to develop best practice internally and externally with regards to reporting and decision support and the provision of relevant security/asset climate change data and tools to assist LPPI to comply with the IIGCC Asset Manager Net Zero Framework and the Task Force on Climate-related Financial Disclosures (TCFD).",
    "classification": {
      "id": "48411000",
      "scheme": "CPV",
      "description": "Investment management software package"
    },
    "procurementMethod": "limited",
    "mainProcurementCategory": "goods",
    "procurementMethodDetails": "Award procedure without prior publication of a call for competition",
    "procurementMethodRationale": "Award of a contract without prior publication of a call for competition in the cases listed below\n•\tWhere the services can be supplied only by a particular economic operator because competition is absent for technical reasons \nExplanation:\nThe contract has been awarded to MSCI under regulation 32(2)(b)(ii) of the Public Contracts Regulations 2015 because competition is absent for technical reasons. LPPI considers MSCI to be the only provider that is able to meet all of LPPI's minimum requirements, which include but are not limited to an Investment Risk System that: \n1.\tprovides coverage for all of LPPI's asset classes, including private assets (without simply proxying to public market instruments) and compatibility with Barra's Real Estate Portal;\n2.\thas a liquidity model, that can provide liquidity ladders and also is compliant with ESM Liquidity Stress Testing requirements;\n3.\tprovides AIFMD reporting as a managed service, driven by the positions loaded into the Risk system;\n4.\tprovides exposure reporting for all asset classes;\n5.\thas the ability to add an unlimited amount of user data and categorisations to positions;\n6.\thas the ability to create user defined, calculated metrics for reporting purposes;\n7.\thas all three types of VaR model (Parametric, Historical and Monte-Carlo) and can incorporate fat tails into the VaR methodology;\n8.\tprovides stress testing of:\na.\thistorical scenarios\nb.\thypothetical scenarios (correlated and uncorrelated)\n9.\tsubject to licencing, has the ability to load all of LPPI's fund risk and performance benchmarks; \n10.\tcan represent the LPPI fund view as well as the client view including their balance sheet assets; and\n11.\tcan support climate change data and tools that effectively work alongside risk management data and tools.",
    "procurementMethodRationaleClassifications": [
      {
        "id": "D_OUTSIDE_SCOPE",
        "scheme": "TED_PT_AWARD_CONTRACT_WITHOUT_CALL",
        "description": "The procurement falls outside the scope of application of the directive"
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  },
  "parties": [
    {
      "id": "GB-COH-09835244",
      "name": "LOCAL PENSIONS PARTNERSHIP INVESTMENTS LTD",
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      "address": {
        "region": "UKI31",
        "locality": "London",
        "postalCode": "EC2M 2PF",
        "countryName": "United Kingdom",
        "streetAddress": "1 Finsbury Avenue"
      },
      "details": {
        "url": "https://www.localpensionspartnership.org.uk/",
        "classifications": [
          {
            "id": "BODY_PUBLIC",
            "scheme": "TED_CA_TYPE",
            "description": "Body governed by public law"
          },
          {
            "scheme": "COFOG",
            "description": "Provision of discretionary investment management services to LGPS clients including pooling solutions"
          }
        ]
      },
      "identifier": {
        "id": "09835244",
        "scheme": "GB-COH",
        "legalName": "LOCAL PENSIONS PARTNERSHIP INVESTMENTS LTD"
      },
      "contactPoint": {
        "name": "Chief Legal and Compliance Officer",
        "email": "Daniel.Evans@lppi.co.uk"
      }
    },
    {
      "id": "GB-COH-03981254",
      "name": "MSCI Inc, MSCI Limited and affiliates",
      "roles": [
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      "address": {
        "region": "UK",
        "locality": "London",
        "postalCode": "E1 6EG",
        "countryName": "United Kingdom",
        "streetAddress": "Ninth Floor, Ten Bishops Square"
      },
      "details": {
        "scale": "large"
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      "identifier": {
        "id": "03981254",
        "scheme": "GB-COH",
        "legalName": "MSCI Inc, MSCI Limited and affiliates"
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    },
    {
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      "name": "The High Court",
      "roles": [
        "reviewBody"
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      "address": {
        "locality": "London",
        "postalCode": "WC2A 2LL",
        "countryName": "United Kingdom",
        "streetAddress": "Strand"
      },
      "details": {
        "url": "https://www.gov.uk/courts-tribunals"
      },
      "identifier": {
        "legalName": "The High Court"
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      "contactPoint": {
        "email": "generaloffice@administrativecourtoffice.justice.gov.uk"
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  ],
  "language": "en",
  "contracts": [
    {
      "id": "023506-2022-1",
      "value": {
        "amount": 765000,
        "currency": "GBP"
      },
      "status": "active",
      "awardID": "023506-2022-1",
      "dateSigned": "2022-06-01T00:00:00+01:00"
    }
  ],
  "initiationType": "tender"
}