Financial and insurance services

Tender description

BBB is conducting this procurement to establish frameworks of fund managers for: Lot 1 — equity funds where the authority is looking to commit between 100 000 000 GBP and 400 000 000 GBP across a number of funds; Lot 2 — debt funds where the authority is looking to commit between 100 000 000 GBP and 400 000 000 GBP across a number of funds; and Lot 3 — microfinance funds where the authority is looking to commit between 20 000 000 GBP and 80 000 000 GBP across a number of funds It is anticipated that the first fund which will call off under the Framework Agreement by way of Mini-Competitions will be Northern Powerhouse Investment Fund (‘NPIF’), which is a fund of over £400 million to invest in smaller businesses and is subject to European funding. However the scope of the Framework extends to other funds which may be identified during the period of the Framework in the NPIF Area (including funds currently or previously operating as well as any new funds that become available). Equity funds where the authority is looking to commit between 100 000 000 GBP and 400 000 000 GBP across a number of funds. Each equity investment must be an investment in an SME in the NPIF Area and be an investment in a range size of 50 000 GBP to 2 000 000 GBP (unless otherwise agreed). Debt funds where the authority is looking to commit between 100 000 000 GBP and 400 000 000 GBP across a number of funds. Each loan must be a loan to an SME in the NPIF Area and be a loan in a range size of 100 000 GBP to 750 000 GBP (unless otherwise agreed). Microfinance funds where the authority is looking to commit between 20 000 000 GBP and 80 000 000 GBP across a number of funds. Each microfinance loan must be a loan to an SME in the NPIF Area and be a loan in a range size of 25 000 GBP to 100 000 GBP (unless otherwise agreed).