Financial and insurance services

Tender description

LGPS Central Ltd is a private company, owned by its investors, responsible for the pooling of nine regional pension plans investments, responsible for AUM in the region of 40 000 000 000 GBP. The company received authorisation from the FCA in January 2018. The company is looking for global active emerging markets equity managers to manage a fund in the region of 1 500 000 000 GBP. Successful candidates will be able to demonstrate: — consistent, robust, repeatable, investment process, — responsible investment at the heart of the investment process, — concentrated portfolio, — low, fully transparent costs, — full transparency (look through) with the ACS custodian. The key objectives of the LGPS Central pool are to: — meet the investment objectives of the partner funds, — establish a collaborative platform through which administering authorities of the partner Funds can aggregate their pension assets, with a view to providing scale economies and improved investment efficiency, — create capacity to invest in asset classes which individual funds may find difficult to access, — stimulate innovation, and provide an opportunity for funds to engage with the investment industry in finding new and creative approaches to the funding challenges faced by the LGPS (and the wider pensions sector), — act as a responsible, long-term investor, using its influence as a shareholder to promote the highest standards of corporate stewardship. The company is looking for global active emerging markets equity managers to manage a fund in the region of 1500 000 000 GBP. Successful candidates will be able to demonstrate: — consistent, robust, repeatable, investment process, — responsible investment at the heart of the investment process, — concentrated portfolio, — low, fully transparent costs, — full transparency (look through) with the ACS custodian. The process is a competitive dialogue process that will be fair, transparent and non-discriminatory. The procurement process will have two stages. The first is a selection process to select a shortlist of between 9 and 12 bidders. For the first stage bidders are required to complete a selection questionnaire and return using the e-tendering portal at www.wolverhamptontenders.com and searching for “PP18044 — LGPS Central Active GlobalEmerging Markets Equities”. The partnership is made up of the local authority pension schemes of Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Staffordshire, Shropshire, West Midlands, Worcestershire and West Midlands ITA. LGPS Central Ltd reserves the right to cancel the procurement process at any stage for any reason; to amend the terms and conditions; and/or to vary the scope of the services required and it shall not be liable to any bidder as a result of this action. All bidders are solely responsible for their costs and expenses incurred in connection with the preparation and submission of their proposal. Any agreement entered into will be governed by English and Welsh law and will be subject to the exclusive jurisdiction of the English Courts. Please note that the Authority considers that the services being required pursuant to this notice are services which are exempt from the Public Contracts Regulations (and Directive 2014/24/EU of the European Parliament and of the Council) as being comprised of services falling within the exemption in Regulation 10(1)(e) of the Public Contracts Regulations 2015. Accordingly this represents a voluntary contract notice only and not 1 which it is required to publish to comply with the Public Contracts Regulations. Its decision to issue this notice in the official journal should not be taken to indicate any intention to follow the competitive dialogue procedure or any other procedure or comply with any requirements under the Public Contracts Regulations 2015 (or the Directive), nor will it be (irrespective of this Notice) under any obligation to do so.