Financial and insurance services

Tender description

This procurement process was run jointly by the 3 contracting authorities referred to in Section I. This procurement is split into 2 lots: Lot 1: relates to the provision of Services to the Evergreen and Evergreen 2 subfunds; and Lot 2: relates to the provision of Services to Low Carbon subfund. The subfund 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 subfund size and scope of the Services may expand and/or contract over the terms 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 is 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 subfunds, — registering and publishing all notices, statements or other instruments as may be required in relation to the subfunds, — maintaining the subfunds' financial accounting books, records keeping and perform all other day-to-day operations, — developing an investment policy and business plan for the subfunds, — 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 subfund, — 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 subfund, — implementing appropriate operational decision making bodies and governance checks and balances, and — recommending and managing appropriate exit strategies from relevant investments.