Official UK procurement notice
Wales Pension Partnership Private Markets Investments
Authority: Carmarthenshire County Council (Local council)
What is being bought3 lots · detail below
Published requirement descriptionCarmarthenshire County Council is the Host Authority for the Wales Pension Partnership (WPP). The WPP, established in 2017 is a collaboration of all eight LGPS funds in Wales and is one of eight national Local Government Pension pools. The eight LGPS funds in Wales are: Cardiff and Vale of Glamorgan, City and County of Swansea, Clwyd, Dyfed, Greater Gwent (Torfaen), Gwynedd, Powys and Rhondda Cynon Taf.
The WPP has total assets worth approximately 21.6bn GBP (as at 31st March 2021), 14.6bn GBP of which have already been pooled and a further 0.6bn GBP to be invested in an Emerging Markets sub fund later this year.
- The WPP is now looking to develop a range of Private Market Sub-Funds which the Constituent Authorities (“CAs”) (Local Government Pension Funds) of Wales can use to obtain the private market exposure that they require to meet their locally decided strategic asset allocations.
PLEASE NOTE: This procurement will focus on Private Credit and Infrastructure assets. Real Estate and Private Equity assets will be addressed in a future separate procurement exercise.
For further details please refer to the documentation available on eTenderwales eTendering portal.
- Recurrence: Contract extensions up to an additional 60 months subject to satisfactory performance
CPV: Pension investment services
How this framework works
From the published notice- Bids received
- 8 bids on the busiest of 3 lots · 4 suppliers appointed
Lots and requirements (3)Procurement structure
3 lots · no lot values published · same evaluation weights on every lotLot #1Private Debt Investments AllocatorAwardedRenewal
Private Markets Allocator to establish a Private Debt investment programme over a series of vintages utilising best in class closed end investment funds, co- investments and / or direct investments.
Please refer to the eTender on eTenderwales and view the WPP Private Markets - Lot 1 - Private Debt allocator - Quantitative PQQ.xls Tab 1 for detailed investment objectives and constraints. This information can be accessed via the eTender opportunity on eTenderwales and will be located in the General Attachments Area and Technical Envelope. Additional information: Please refer to the eTender opportunity on eTenderwales for further information.
Lot #2Infrastructure Investments AllocatorAwardedRenewal
Private Markets Allocator to establish an infrastructure investment programme over a series of vintages utilising best in class closed end investment funds, co-investments and / or direct investments.
Potential oversight role for portfolio of open-ended infrastructure investments identified by WPP.
Please refer to the eTender on eTenderwales and view the WPP Private Markets - Lot 2 - Infrastructure Allocator - Quantitative PQQ.xls Tab 1 for detailed investment objectives and constraints. This information can be accessed via the eTender opportunity on eTenderwales and will be located in the General Attachments Area and Technical Envelope. Additional information: Please refer to the eTender opportunity on eTenderwales for further information.
Lot #3Open Ended Infrastructure FundsAwardedRenewal
Open-Ended infrastructure fund investment(s)
Please refer to the eTender on eTenderwales and view the WPP Private Markets - Lot 3 - Infrastructure Open-Ended Funds - Quantitative PQQ.xls Tab 1 for detailed investment objectives and constraints. This information can be accessed via the eTender opportunity on eTenderwales and will be located in the General Attachments Area and Technical Envelope. Additional information: Please refer to the eTender opportunity on eTenderwales for further information.
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 (2)
- Quality: 80%
- Cost: 20%
Published award criteria (2)
- Quality: 80
- Cost: 20
- Technical & professional ability
It is expected that the Allocator will be an FCA or equivalent authorised firm with appropriate investment expertise and track record.
- Staff
- Names and qualifications of delivery staff must be submitted
- Successive reduction
- Candidates will be reduced successively across stages
- Price carries 20 of 100 points: a 10% discount moves about 2 points. The method statement decides this lot, not the discount.
- “Wales Pension Partnership Private Markets Investments” is a framework: the contest is a place on its panel, not a single contract.
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
- Competitive procedure with negotiation
- 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
- Framework agreement
- Who may use this agreement
- Not stated in the notice; call-off rights may be limited to the establishing authority
- Competition type
- Competitive procedure
- GPA / WTO covered
- Yes (GPA)
- Recurring procurement
- Yes · Contract extensions up to an additional 60 months subject to satisfactory performance
- First published
- 1 Oct 2021, 16:44 BST
- Last source update
- 4 Aug 2022, 14:11 BST
- FTS notice number
2022/S 000-021420- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-02e720Find a Tender
- Performance terms
As detailed in the invitation to tender documentation.
Publisher note: To assist you in locating these opportunities on the BRAVO E Procurement System the project code is: project_48408 As this is a Competitive procedure with negotiation, Tenderers must ensure that all PQQ questions are fully responded to. The following PQQ Project codes may further assist you in locating the opportunity on eTenderwales: PQQ Code: pqq_33163 Please also ensure you check the General Attachments Area on eTenderwales for any documents/ information which may assist you with your submission or you are required to upload as part of your submission as per information contained within the tender pack. Suppliers Instructions How to express interest in this Tender: 1. Register your company on the etenderwales portal (this is only required once) - Browse to the eSourcing Portal: www.etenderwales.bravosolution.co.uk - Click the "Suppliers register here" link - Enter your correct business and user details - Note the username you chose and click "Save" when complete - You will shortly receive an email with your unique password (please keep this secure) - Agree to the terms and conditions and click "continue" 2. Express an Interest in the Project - Login to the portal with the username/password - Click the "ITTs Open to All Suppliers" link. (These are Invitation to Tender Documents open to any registered supplier) - Click on the relevant ITT to access the content. - Click the "Express Interest" button at the top of the screen - This will move the ITT into your "My ITTs" page. (This is a secure area reserved for your projects only) - Click on the ITT code, you can now access any attachments by clicking the ''''Buyer Attachments" on the left hand side of the screen 3. Responding to the tender - At the top of the screen you can choose to Create Response or Decline to Respond (please give a reason if declining) - You can now use the Messages function on to communicate with the buyer and seek any clarification - Note the deadline for completion, then follow the onscreen instructions to complete the ITT - There may be a mixture of online & offline actions for you to perform (there is detailed online help available) If you require any further assistance use the online help, or the BravoSolution help desk is available Mon - Fri (8am - 6pm) on: - email: [email protected] - Phone: 0800 368 4850/ Fax: 020 7080 0480 Tenders or Requests to Participate must be sent to: Official name: www.etenderwales.bravosolution.co.uk Postal Address: Carmarthenshire County Council will be conducting this procurement exercise through the Value Wales e-Tendering portal. This can be found at www.etenderwales.bravosolution.co.uk , all information may be downloaded and must be returned though this channel. (WA Ref:123759)
How it was run
Official noticeTender documents are also served through a separate tool: https://etenderwales.bravosolution.co.uk ↗
- Appointment period ends
- 5 Nov 2021, 14:00 GMT
- Submission channel
- {"electronicSubmission"}
- Accepted languages
- en
- Bid validity
- 270 days from the deadline
Timeline
5 Nov 2021 → 4 Aug 2022 · 3 dates- Admission / appointment period endsperiod end, not a bid countdown5 Nov 2021, 14:00 GMT
- Invitations to tender expected6 Dec 2021
- Notice published4 Aug 2022, 14:11 BST
Notice history
1 event · 2 releases on Find a Tender- Status changed to complete4 Aug 2022, 14:11 BST
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast3 suppliers are admitted to this framework without individual award values or dates, see the supplier list below.
Contracts
All 3 of these contracts carry the same published figure, £15,000,000, the framework's maximum for the whole notice, not each contract's own value. They are not eleven separate sums.
Infrastructure Investments Allocator
- Signed
- 1 Apr 2022
- Value
- ceiling above
- Status
- active
Open Ended Infrastructure Funds
- Signed
- 1 Apr 2022
- Value
- ceiling above
- Status
- active
Private Debt Investments Allocator
- Signed
- 1 Apr 2022
- Value
- ceiling above
- Status
- active
Bid statistics published by the authority
| Lot | Bids | SME | VCSE | Valid bid range |
|---|---|---|---|---|
| 1 · Private Debt Investments Allocator | 8bids · 8 electronic · 8 from abroad | 8 | — | — |
| 2 · Infrastructure Investments Allocator | 8bids · 8 electronic · 8 from abroad | 8 | — | — |
| 3 · Open Ended Infrastructure Funds | 8bids · 8 electronic · 8 from abroad | 8 | — | — |
Contracting authority & participating public bodies
Dispute resolution & review bodies
- High CourtReview body
Framework contractors & participating bidders
4 commercial parties on the notice- GCM GrosvenorFramework contractor
- IFM InvestorsFramework contractor
- Octopus GroupFramework contractor
- Russell InvestmentsFramework contractor
Official documents & specifications (2)
Official links; attachments are not copiedTender pack and attachments
- Economic and financial selection criteria
- Technical selection criteria