Financial and insurance services

Tender description

British Business Bank is conducting this procurement to establish frameworks of fund managers for:- Lot 1 — Equity funds within the framework range value of 80 000 000 to 300 000 000 GBP across a number of funds; Lot 2 — Debt funds within the framework range value of 120 000 000 to 400 000 000 GBP across a number of funds; Lot 3 — Small business loans funds within the framework range value of 30 000 000 to 60 000 000 GBP across a number of funds; Lot 4 — Proof of concept and early stage funds within the framework range value of 20 000 000 to 40 000 000 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 The Midlands Engine Fund (MEIF) where there is an expected 250 000 000 GBP to be invested in SME's in the Midlands 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 MEIF Area. Equity Funds where the authority is looking to commit between 80 000 000 and 300 000 000 GBP across a number of funds. Each investment must satisfy the conditions as outlined in the Contract Notice. Debt Funds — Where the authority is looking to commit between 120 000 000 and 400 000 000 GBP. Each loan must satisfy the conditions as outlined in the Contract Notice. Small Business Loans where the authority is looking to commit between 30 000 000 and 60 000 000 GBP. Each small business loan must satisfy the conditions as outlined in the Contract Notice. Proof of Concept and Early Stage Fund where the authority is looking to commit between 20 000 000 GBP and 40 000 000 GBP. Each equity, quasi-equity or loan investment must satisfy the conditions as outlined in the Contract Notice.