Official UK procurement notice
Investment Risk System and Climate Risk Data Services
Authority: LOCAL PENSIONS PARTNERSHIP INVESTMENTS LTD (Public body)
What is being bought
Published requirement descriptionLocal 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).
CPV: Investment management software package
The lotProcurement structure
single lot · no lot value publishedLot #1LPPI requires an Investment Risk System to develop best practice internally and…Awarded
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).
The 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:
- provides 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;
- has a liquidity model, that can provide liquidity ladders and also is compliant with ESM Liquidity Stress Testing requirements;
- provides AIFMD reporting as a managed service, driven by the positions loaded into the Risk system;
- provides exposure reporting for all asset classes;
- has the ability to add an unlimited amount of user data and categorisations to positions;
- has the ability to create user defined, calculated metrics for reporting purposes;
- has all three types of VaR model (Parametric, Historical and Monte-Carlo) and can incorporate fat tails into the VaR methodology;
- provides stress testing of:
a. historical scenarios
b. hypothetical scenarios (correlated and uncorrelated)
- subject to licencing, has the ability to load all of LPPI's fund risk and performance benchmarks; and
- can represent the LPPI fund view as well as the client view including their balance sheet assets; and
- can support climate change data and tools that effectively work alongside risk management data and tools.
Procedure terms & legal framework
From the official record- Procedure method
- Award procedure without prior publication of a call for competition
- Legal basis
- CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
- Procurement category
- Goods
- 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
- Yes (GPA)
- Recurring procurement
- Unspecified in notice
- First published
- 23 Aug 2022, 15:43 BST
- Last source update
- 23 Aug 2022, 15:43 BST
- FTS notice number
2022/S 000-023506- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-03622cFind a Tender
- Why no open competition
- The procurement falls outside the scope of application of the directive
- Published justification
Award of a contract without prior publication of a call for competition in the cases listed below
- Where the services can be supplied only by a particular economic operator because competition is absent for technical reasons
Explanation:
The 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:
- provides 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;
- has a liquidity model, that can provide liquidity ladders and also is compliant with ESM Liquidity Stress Testing requirements;
- provides AIFMD reporting as a managed service, driven by the positions loaded into the Risk system;
- provides exposure reporting for all asset classes;
- has the ability to add an unlimited amount of user data and categorisations to positions;
- has the ability to create user defined, calculated metrics for reporting purposes;
- has all three types of VaR model (Parametric, Historical and Monte-Carlo) and can incorporate fat tails into the VaR methodology;
- provides stress testing of:
a. historical scenarios
b. hypothetical scenarios (correlated and uncorrelated)
- subject to licencing, has the ability to load all of LPPI's fund risk and performance benchmarks;
- can represent the LPPI fund view as well as the client view including their balance sheet assets; and
- can support climate change data and tools that effectively work alongside risk management data and tools.
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| MSCI Ltd | £765,000 † | — | Awarded |
Contracts
Contract 023506-2022-1 · MSCI Ltd
- Signed
- 1 Jun 2022
- Value
- £765,000
- Status
- active
Bid statistics published by the authority
| Bids | SME | VCSE | Valid bid range |
|---|---|---|---|
| 1bids | — | — | — |
Contracting authority & participating public bodies
Dispute resolution & review bodies
- The High CourtReview body
Bidders & participating suppliers
1 commercial party on the notice- MSCI Inc, MSCI Limited and affiliatesAwarded supplier
Official documents & specifications
Official links; attachments are not copiedNo document links were published on the notice.