Financial and insurance services

Tender description

This procurement process is being run jointly by the 3 contracting authorities referred to in Section I. This procurement process is split into 2 lots: Lot 1 — relates to the provision of Services to the Evergreen and Evergreen 2 sub-funds; and Lot 2 — relates to the provision of Services to the Low Carbon sub-fund. The sub-fund sizes based on currently available funds are 60 000 000 GBP for Evergreen, 45 000 000 GBP for Evergreen 2 and 15 000 000 GBP for Low Carbon. However, the sub-fund size and scope of the Services may expand and/or contract over the term of the contract(s) to reflect changes to the funding that is made available. Such changes may include increases of up to a maximum 100 % of the currently available funds (up to 120 000 000 GBP for Evergreen, 90 000 000 GBP for Evergreen 2 and 30 000 000 GBP for Low Carbon). The contract includes (but not limited to): — developing the pipeline of potential projects, following the origination of potential projects from public sector partners and the successful tenderer's own network of contacts; — monitoring compliance and risk in accordance with accountability requirements and the eligibility rules applicable to the sub-funds; — registering and publishing all notices, statements or other instruments as may be required in relation to the sub-funds; — maintaining the sub-funds' financial accounting books, records keeping and perform all other day-to-day operations; — developing an investment policy and business plan for the sub-funds; — managing the existing Evergreen portfolio to ensure the achievement of eligible expenditure, output and financial return targets; — implementing appropriate operational decision making bodies and governance checks and balances; and — recommending and managing appropriate exit strategies from relevant investments. The contract includes (but are not limited to): — developing the pipeline of potential projects, following the origination of potential projects from public sector partners and the successful tenderer's own network of contacts; — monitoring compliance and risk in accordance with accountability requirements and the eligibility rules applicable to the sub-fund; — registering and publishing all notices, statements or other instruments as may be required in relation to the sub-fund; — maintaining the sub-fund's financial accounting books, records keeping and perform all other day-to-day operations; — developing an investment policy and business plan for the sub-fund; — implementing appropriate operational decision making bodies and governance checks and balances; and — recommending and managing appropriate exit strategies from relevant investments.