Official UK procurement notice
NCC1819 Business Northumberland Investment Fund (BNIF) - Fund Manager
Authority: Northumberland County Council (Local council)
What is being bought
Published requirement descriptionBusiness Northumberland Investment Fund (BNIF) - Fund Manager
The Contracting Authority is seeking to appoint a suitably qualified and experienced Fund Manager to establish and manage the Business Northumberland Investment Fund (BNIF). BNIF is a place-based investment fund designed to address identified gaps in access to finance for businesses across Northumberland through the provision of debt, equity and hybrid financial instruments.
Further details of the Contracting Authority's requirements under the Contract and other relevant information is contained in the ITT Specification at Schedule 2.
- The authority expects to re-tender this requirement around 1 Apr 2037, 23:59 BST.
- How the procedure runs: The Procurement is being run under a multi-stage competitive procedure ("Competitive Flexible Procedure") pursuant to section 20(2)(b) of the Act. The Contracting Authority intends to follow a Competitive Flexible Procedure for the selection of the successful Supplier, which will involve the following key stages: - Conditions of Participation via a Procurement Specific Questionnaire (PSQ); - Pre-Qualification Shortlisting Assessment; - Issue of Invitation to Submit Initial Tenders (ISIT) to the shortlisted Tenderers; - Negotiation and Dialogue stage; - Invitation to Submit a Final Tender (ISFT) Final Tender Submissions; - Tender Evaluation and selection of preferred Supplier; - Intent to Award/Standstill Period; and - Contract Award Suppliers must submit a response to the Procurement Specific Questionnaire (PSQ) by the deadline specified in the procurement documentation. Following assessment of the PSQ, Suppliers who meet all of the Conditions of Participation of the PSQ will proceed to the Invitation to Submit Initial Tenders (ISIT) stage. The Contracting Authority intends to shortlist a maximum of 6 suppliers to be invited to the ISIT stage. ISIT submissions will not be formally evaluated or scored. The purpose of the ISIT submission is to provide the basis for the subsequent negotiation and dialogue meetings and to enable the Contracting Authority to understand each Supplier's initial proposals. Following the Contracting Authority's review of the ISIT submissions, Suppliers will be invited to attend an individual Tender Negotiation and Dialogue Meeting. These Meetings are scheduled to take place in person on 30th November 2026, 2nd December 2026, 3rd December 2026, 7th December 2026 and 8th December 2026 at Northumberland County Council offices, County Hall, Morpeth, NE61 2EF. Upon completion of the ISIT and Negotiation and Dialogue stages, the Contracting Authority intends to invite the submission of Final Tenders via the Invitation to Submit Final Tender (ISFT) stage. During ISFT stage the Contracting Authority expects to undertake an evaluation process to identify which Supplier has submitted the Most Advantageous Tender. Following the conclusion of all evaluation activities it is the Contracting Authority's intention to award the Contract. The Contracting Authority reserves the right to vary the procedure and timeframes of the Procurement as set out fully in the procurement documentation. Reasons for this may include, but are not limited to, supporting continued competition, avoiding unnecessary bidding cost and adhering to subsequent technical or legal guidance. Suppliers wishing to be considered for this Contract must register their expression of interest and submit the Procurement Specific Questionnaire (PSQ) and subsequent tender responses through the Open eTendering System. Responses submitted via postal or email methods will not be accepted. If not already registered, suppliers should register on the OPEN eTendering System at https://www.open-uk.org/ If you need technical assistance from the Open Support team, this can be requested via [email protected] PLEASE NOTE: Open is accessible 24/7 however, technical support is available Monday - Thursday 8:30 - 5pm and Friday 8.30 - 4.30pm For guidance on how to submit your response through Open, please visit: https://www.openhub.org/training to access the available Training Guides.
CPV: Financial and insurance services
The lotProcurement structure
single lot · value publishedLot #1RenewalPublished value£5,500,000
- Condition of participationshortlisting
Suppliers must pass a minimum overall score threshold of 70% for the scored questions in the Procurement Specific Questionnaire relating to Conditions of Participation.
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 (13)
- Investment Strategy and Portfolio Construction: 12%
- Delivery Model, Operational Capability, Team and Local Presence: 12%
- Pipeline Development, Market Engagement and Investment Readiness: 10%
- Investment Process and Governance: 10%
- Portfolio Management and Performance: 8%
- Risk, Returns and Exit Strategy: 8%
- Additionality and Market Positioning: 7%
- Economic Impact Delivery and Measurement: 7%
- Mobilisation and Fund Establishment: 4%
- Commercial Structure, Alignment of Interests and Value for Money: 7%
- Total Fees and Costs Payable by BNIF: 9%
- Total Costs Borne by Investees Companies: 1%
- Geographic Reach, Social Value and Ecosystem Development: 5%
Published award criteria (13)
- Investment Strategy and Portfolio Construction
- Delivery Model, Operational Capability, Team and Local Presence
- Pipeline Development, Market Engagement and Investment Readiness
- Investment Process and Governance
- Portfolio Management and Performance
- Risk, Returns and Exit Strategy
- Additionality and Market Positioning
- Economic Impact Delivery and Measurement
- Commercial Structure, Alignment of Interests and Value for Money
- Geographic Reach, Social Value and Ecosystem Development
- Mobilisation and Fund Establishment
- Total Fees and Costs Payable by BNIF
- Total Costs Borne by Investees Companies
- Condition of participationshortlisting
Suppliers must pass a minimum overall score threshold of 70% for the scored questions in the Procurement Specific Questionnaire relating to Conditions of Participation.
- Price carries 17 of 100 points: a 10% discount moves about 1.7 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- Procedure method
- Competitive flexible procedure
- Legal basis
- UKPGA · 2023/54 Procurement Act 2023
- Procurement category
- Services
- Notice status
- Closed
- Procurement threshold
- Above threshold (FTS publication)
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Competitive procedure
- GPA / WTO covered
- Yes (GPA)
- Recurring procurement
- Yes · next expected 1 Apr 2037
- First published
- 7 May 2026, 08:56 BST
- Last source update
- 24 Aug 2026, 10:07 BST
- Award evaluation window
- Submission end – 15 Mar 2027
- Authority reference
NCC1819- FTS notice number
2026/S 000-080182- Latest notice
- Tender notice (UK4)
- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-0692dbFind a Tender
- How it runs
The Procurement is being run under a multi-stage competitive procedure ("Competitive Flexible Procedure") pursuant to section 20(2)(b) of the Act.
The Contracting Authority intends to follow a Competitive Flexible Procedure for the selection of the successful Supplier, which will involve the following key stages:
- Conditions of Participation via a Procurement Specific Questionnaire (PSQ);
- Pre-Qualification Shortlisting Assessment;
- Issue of Invitation to Submit Initial Tenders (ISIT) to the shortlisted Tenderers;
- Negotiation and Dialogue stage;
- Invitation to Submit a Final Tender (ISFT)
Final Tender Submissions;
- Tender Evaluation and selection of preferred Supplier;
- Intent to Award/Standstill Period; and
- Contract Award
Suppliers must submit a response to the Procurement Specific Questionnaire (PSQ) by the deadline specified in the procurement documentation.
Following assessment of the PSQ, Suppliers who meet all of the Conditions of Participation of the PSQ will proceed to the Invitation to Submit Initial Tenders (ISIT) stage. The Contracting Authority intends to shortlist a maximum of 6 suppliers to be invited to the ISIT stage.
ISIT submissions will not be formally evaluated or scored. The purpose of the ISIT submission is to provide the basis for the subsequent negotiation and dialogue meetings and to enable the Contracting Authority to understand each Supplier's initial proposals.
Following the Contracting Authority's review of the ISIT submissions, Suppliers will be invited to attend an individual Tender Negotiation and Dialogue Meeting. These Meetings are scheduled to take place in person on 30th November 2026, 2nd December 2026, 3rd December 2026, 7th December 2026 and 8th December 2026 at Northumberland County Council offices, County Hall, Morpeth, NE61 2EF.
Upon completion of the ISIT and Negotiation and Dialogue stages, the Contracting Authority intends to invite the submission of Final Tenders via the Invitation to Submit Final Tender (ISFT) stage. During ISFT stage the Contracting Authority expects to undertake an evaluation process to identify which Supplier has submitted the Most Advantageous Tender. Following the conclusion of all evaluation activities it is the Contracting Authority's intention to award the Contract.
The Contracting Authority reserves the right to vary the procedure and timeframes of the Procurement as set out fully in the procurement documentation. Reasons for this may include, but are not limited to, supporting continued competition, avoiding unnecessary bidding cost and adhering to subsequent technical or legal guidance.
Suppliers wishing to be considered for this Contract must register their expression of interest and submit the Procurement Specific Questionnaire (PSQ) and subsequent tender responses through the Open eTendering System. Responses submitted via postal or email methods will not be accepted.
If not already registered, suppliers should register on the OPEN eTendering System at www.open-uk.org ↗
If you need technical assistance from the Open Support team, this can be requested via [email protected]
PLEASE NOTE: Open is accessible 24/7 however, technical support is available Monday - Thursday 8:30 - 5pm and Friday 8.30 - 4.30pm
For guidance on how to submit your response through Open, please visit: www.openhub.org/training ↗ to access the available Training Guides.
How it was run
Official notice- Requests to participate (first stage)
- 18 Sept 2026, 12:00 BST
- Submission deadline
- 18 Sept 2026, 12:00 BST
- Submission channel
- Official e-sourcing portal
- Electronic submission
- Allowed
- Accepted languages
- en
Timeline
7 May 2026 → 1 Apr 2027 · 7 dates- Planning notice published167 days ago7 May 2026, 08:56 BST
- Market engagement144 days ago29 May 2026, 23:59 BST
Northumberland County Council (NCC) is looking to conduct a procurement exercise to appoint a fund manager to manage the Business Northumberland Investment Fund (BNIF).
To inform the development and future delivery of this fund, we are undertaking this Preliminary Market Engagement (PME) exercise which will be in the form of a survey.
We wish to gain information from the market regarding a number of areas relating to the potential procurement exercise. Specifically, this engagement is being carried out to better understand:
- market capacity and capability.
- commercial norms and delivery models.
- risks, opportunities and barriers to entry; and
- how a future procurement (if progressed) can be designed to be fair, proportionate and accessible.
Suppliers are invited to respond to as many questions as they feel able to. Concise, qualitative responses are welcomed, particularly where they reflect experience of delivering SME investment in rural, place‑based or publicly backed contexts.
All responses should be provided by completing the survey which can be downloaded via OPEN Portal system www.open-uk.org ↗. Your responses will also be via the OPEN portal.
- Next notice expected71 days ago10 Aug 2026, 23:59 BST
- Tender notice published58 days ago24 Aug 2026, 10:07 BST
- Submission deadline33 days ago18 Sept 2026, 12:00 BST
- Today21 Oct 2026
- Award decision expected byin 146 days15 Mar 2027, 23:59 GMT
- Contract startsin 162 days1 Apr 2027, 00:00 BST
Notice history
7 events · 3 releases on Find a Tender · since 7 May 2026- Preliminary market engagement notice published7 May 2026, 08:56 BSTUK2
- Pipeline notice published30 Jun 2026, 12:10 BSTUK1
- Status changed to planned30 Jun 2026, 12:10 BST
- Tender notice published24 Aug 2026, 10:07 BSTUK4
- Published value published: £5,500,00024 Aug 2026, 10:07 BST
- Status changed to active24 Aug 2026, 10:07 BST
- Procurement method changed24 Aug 2026, 10:07 BST
Contracting authority & participating public bodies
Official documents & specifications (3)
Official links; attachments are not copiedNotices published for this procedure
- Tender notice Tender notice on Find a Tender
- Pipeline notice Pipeline notice on Find a Tender
- Preliminary market engagement notice Preliminary market engagement notice on Find a Tender