ACCESS Pool Investment Manager for Real Estate - Global

Tender description

The Authority is seeking an investment manager to manage and grow the assigned Global Real Estate mandates of the ACCESS pool members. This procurement is being undertaken by Hampshire County Council (the Authority) on behalf of the Administering Authorities who together comprise the ACCESS Pool. The ACCESS Pool is a collaboration of 11 like-minded Local Government Pension Scheme Authorities, investing the pensions of over one million members, delivering strong investment performance, achieving greater cost efficiency and benefiting from the best of local authority procurement. Further information regarding the ACCESS Pool can be found here: https://www.accesspool.org/. Lot 1: Hampshire County Council is running this procurement on behalf of ACCESS pool and is seeking to appoint an investment manager to manage and grow the assigned Global Real Estate mandates of the ACCESS Pool members. The procurement will be carried out as a two stage Restricted procedure. Real Estate mandates of the ACCESS Pool members. The procurement will be carried out as a two stage Restricted procedure. The duration of the contract(s) shall be thirty (30) years, subject to a five (5) yearly review cycle during this period. Additional information: Note: The stated contract value is an estimate of fees payable over the life of the contract based on anticipated mandate size and maximum fees set out in the Pricing Schedule. The actual fees payable will depend on these and other relevant factors applicable over the course of the mandate. This amount should not be taken as a guaranteed value or payment. Specifically, the estimated total contract value shown above has been derived by making a number of assumptions at the time of writing, which include: the aggregated authority target exposure of £800 million as initial assets in the mandate; a contract length of 30 years; a maximum blended fee rate of 40 basis points; a constant asset growth assumption of 6.0%. p.a. It should be noted that in practice the actual levels of assets, fees and growth rates are highly likely to differ materially from these assumptions over the term of the mandate. For further details on the expected size of this mandate, please see 'Project Background' in Section 1 of the ITT.