UK-Newcastle Upon Tyne: corporate finance and venture capital services

Country:

United Kingdom

City/Locality:

NEWCASTLE UPON TYNE

Notice/Contract Number:

eu:219335-2008

Publication Date:

Aug 22, 2008

Deadline:

Oct 1, 2008

Buyer:

NORTH EAST REGIONAL INVESTMENT FUND PARTNER LIMITED OR ANOTHER COMPANY CREATED OR APPOINTED BY ONE NORTHEAST FOR THE PURPOSES OF MANAGING THE FUND

Original Language:

English

Address:

NORTH EAST REGIONAL INVESTMENT FUND PARTNER LIMITED OR ANOTHER COMPANY CREATED OR APPOINTED BY ONE NORTHEAST FOR THE PURPOSES OF MANAGING THE FUND
NEWCASTLE UPON TYNE , NORTH EAST (ENGLAND)
United Kingdom

Web Site:

www.onenortheast.co.uk

Notice Type: 2210
-
Contract notice
Regulation of Procurement: European Communities, with participation by GPA countries
EU Official Journal Publication: 162/2008
, #
219335-2008
Contract Nature: Service contract
Procedure Type: Open procedure
Type of Bid Required: Global tender
Awarding Criteria: The most economic tender

Summary:
CONTRACT NOTICE
Services
SECTION I: CONTRACTING AUTHORITY
I.1) NAME, ADDRESSES AND CONTACT POINT(S): North East Regional Investment
Fund Partner Limited or another company created or appointed by One
NorthEast for the purposes of managing the fund, Stella House,
UK-Newcastle Upon Tyne NE15 8NY.
Internet address(es):
General address of the contracting authority: www.onenortheast.co.uk.
Address of the buyer profile: www.onenortheast.bravosolution.com.
Further information can be obtained at: One NorthEast, All requests for
information must be sent through the messaging facility on the One
NorthEast eTendering system., Contact: Procurement Team. URL:
www.onenortheast.bravosolution.com.
Specifications and additional documents (including documents for
competitive dialogue and a dynamic purchasing system) can be obtained at:
One NorthEast, All requests for information must be sent through the
messaging facility on the One NorthEast eTendering system., Contact:
Procurement Team. URL: www.onenortheast.bravosolution.com.
Tenders or requests to participate must be sent to: One NorthEast, All
requests for information must be sent through the messaging facility on
the One NorthEast eTendering system., Contact: Procurement Team. URL:
www.onenortheast.bravosolution.com.
I.2) TYPE OF THE CONTRACTING AUTHORITY AND MAIN ACTIVITY OR ACTIVITIES:
Body governed by public law.
Economic and financial affairs.
The contracting authority is purchasing on behalf of other contracting
authorities: yes.
SECTION II: OBJECT OF THE CONTRACT
II.1) DESCRIPTION
II.1.1) Title attributed to the contract by the contracting authority:
Fund Manager for a pilot mezzanine Fund for SME's in the North East of
England.
II.1.2) Type of contract and location of works, place of delivery or of
performance: Services.
Service category: No 6.
NUTS code: UKC.
II.1.3) The notice involves: A public contract.
II.1.5) Short description of the contract or purchase(s): The contracting
authority is seeking a fund manager to provide a range of services. The
fund has not yet been set up but will be to the value of approximately £3
000 000 . Individual investments are expected to be in the region of £120
- £150k (and any event not exceeding the de-minimis State Aid limit).
To evaluate options for establishing a direct link between returns on the
fund and the relative performance of the investee company.
The fund is being established to provide mezzanine finance (including
unsecured loans) for SME’s in the North East of England. The aim is to
address gap funding and risk capital issues to improve rates of business
survival and growth. The fund managers duties will include:
1. Identify suitable investment opportunities for the fund in accordance
with approved criteria
2. Manage the funds in accordance with requirements of the stakeholders
3. Work alongside the business support network in the North East of
England
For point 3 it is recognised that pre and post transaction activities, in
particular, will require intensive networking and the development of
investment readiness and mentoring programmes in the North East of England
and the fund manager is expected to be closely involved in these
activities.
The fund will be financed from the public sector due to its public status.
The aim is to establish the fund by January 2009 with a closing date for
investments of December 2009.
At the time of the advert it has not yet been decided which legal entity
will be the contracting authority. It may be NERIF 3 Ltd (co. no. 4386994)
or another company which may currently exist or may be created to deliver
this project.
II.1.6) Common procurement vocabulary (CPV): 67112000, 67111000,
74140000, 74141000, 74141110, 74100000, 67154000, 74800000, 74870000,
67150000, 67113000, 72224000, 67100000, 67000000, 67110000.
II.1.7) Contract covered by the Government Procurement Agreement (GPA):
Yes.
II.1.8) Division into lots: No.
II.1.9) Variants will be accepted: Yes.
II.2) QUANTITY OR SCOPE OF THE CONTRACT
II.2.1) Total quantity or scope: The estimated fee for the whole of the
services is expected to be in line with industry norms for the UK for the
duration of the contract (observing the relevant European regulations
covering Risk Capital). The scope of the contract will encompass; deal
generation, deal packaging, transaction execution, post transaction
support (inc. portfolio management and realisations) and monitoring and
preparing reports.
The estimated fee for the services is in the region of 10-15 % of the
funds being managed under the duration of the contract.
NB The creation of the fund is subject to the approval of the Board of One
NorthEast. A decision will be made in September 2008. Subject to this
decision One NorthEast reserves the right to cancel this procurement
process.
Estimated value excluding VAT:
Range: between 300 000 and 450 000 GBP.
II.2.2) Options: No.
II.3) DURATION OF THE CONTRACT OR TIME-LIMIT FOR COMPLETION: Duration in
months: 60 (from the award of the contract).
SECTION III: LEGAL, ECONOMIC, FINANCIAL AND TECHNICAL INFORMATION
III.1) CONDITIONS RELATING TO THE CONTRACT
III.1.1) Deposits and guarantees required: The Contracting Authority
reserves the right to demand any deposits, guarantees, bonds and insurance
cover it deems appropriate.
III.1.2) Main financing conditions and payment arrangements and/or
reference to the relevant provisions regulating them: Details will be in
the Tender Specification.
III.1.3) Legal form to be taken by the group of economic operators to
whom the contract is to be awarded: The Contracting Authority reserves the
right to require groupings of contractors to take particular legal form or
to require that each party undertakes joint and several liability.
Where a consortium or sub-contracting approach is proposed, you will be
required to provide all information in respect of the relationships and
roles between the parties and identify the proportion of the work to be
delivered by the parties named.
III.1.4) Other particular conditions to which the performance of the
contract is subject: Yes.
The Contracting Authority's Terms and Conditions that will be issued as
part of the Tender Documents.
III.2) CONDITIONS FOR PARTICIPATION
III.2.1) Personal situation of economic operators, including requirements
relating to enrolment on professional or trade registers: Information and
formalities necessary for evaluating if requirements are met: Assessment
will be made against the information provided as required in the Tender
Specification and ITT Documents. The completed Tenders must be returned to
the Contracting Authority by no later than 12:00 noon on 1.10.2008.
Or.
1. Registering Your Company On The E-Tendering Portal
— Browse to the e-Tendering Portal at http://
www.onenortheast.bravosolution.com,
— Click the hyperlink located under the ‘Login’ tab (found within the
right hand menu),
— Accept the terms and conditions and click “Continue”,
— Enter your correct business and user details,
— Note the username you chose and click “Save” when complete,
— You will shortly receive an email with your unique password (please keep
this secure),
2. Expressing an Interest in an Opportunity,
— Login to the portal with the username/password,
— Click the “ITTs Open to All Suppliers” link,
— Click on the relevant ITT Title (not code) to access the content,
— Click the “Express Interest” button within the “Actions” box on the
left-hand side of the page,
— This will move the ITT into your “My ITTs” page. (This is a secure area
reserved for your projects only),
— By clicking on the ITT Title (not code), you can now access any
attachments by clicking the “Settings and Buyer Attachments” in the
“Actions” box.
3. Responding to a Tender
— Click on the ITT Code, you can now choose to “Reply” or “Reject” (please
give a reason if rejecting).
— You can now use the ‘Messages’ function to communicate with the buyer
and seek any clarification.
— Note the deadline for completion, then follow the onscreen instructions
to complete the ITT.
— There may be a mixture of online & offline actions for you to perform
(there is detailed online help available).
Should you have any technical queries relating to creating a login or
accessing your account, please contact help@bravosolution.co.uk or 0800
011 2470.
III.2.2) Economic and financial capacity: Information and formalities
necessary for evaluating if requirements are met: Further details will be
in the Tender Documents mentioned in III.2.1.
Minimum level(s) of standards possibly required: Further details will be
in the Tender Documents mentioned in III.2.1.
III.2.3) Technical capacity: Information and formalities necessary for
evaluating if requirements are met: Further details will be in the Tender
Documents mentioned in III.2.1.
Minimum level(s) of standards possibly required: Further details will be
in the Tender Documents mentioned in III.2.1.
III.2.4) Reserved contracts: No.
III.3) CONDITIONS SPECIFIC TO SERVICES CONTRACTS
III.3.1) Execution of the service is reserved to a particular profession:
Yes.
The fund manager must be suitably approved and qualified under the
relevant financial services and market act.
III.3.2) Legal entities should indicate the names and professional
qualifications of the staff responsible for the execution of the service:
Yes.
SECTION IV: PROCEDURE
IV.1) TYPE OF PROCEDURE
IV.1.1) Type of procedure: Open.
IV.2) AWARD CRITERIA
IV.2.1) Award criteria: The most economically advantageous tender in
terms of the criteria stated in the specifications, in the invitation to
tender or to negotiate or in the descriptive document.
IV.2.2) An electronic auction will be used: No.
IV.3) ADMINISTRATIVE INFORMATION
IV.3.1) File reference number attributed by the contracting authority:
OJEU08/09-013.
IV.3.2) Previous publication(s) concerning the same contract: No.
IV.3.3) Conditions for obtaining specifications and additional documents
or descriptive documentTime limit for receipt of requests for documents or
for accessing documents: 1.10.2008 - 11:59.
IV.3.4) Time-limit for receipt of tenders or requests to participate:
1.10.2008 - 12:00.
IV.3.6) Language(s) in which tenders or requests to participate may be
drawn up: English.
IV.3.7) Minimum time frame during which the tenderer must maintain the
tender: Duration in days: 90 (from the date stated for receipt of tender).
IV.3.8) Conditions for opening tenders: Date: 30.9.2008 - 12:15.
Place: The Tenders will be opended after the closing date through the One
NorthEast eTendering system.
Persons authorised to be present at the opening of tenders: yes.
One NorthEast Procurement Team.
SECTION VI: COMPLEMENTARY INFORMATION
VI.1) THIS IS A RECURRENT PROCUREMENT: No.
VI.2) CONTRACT RELATED TO A PROJECT AND/OR PROGRAMME FINANCED BY EU
FUNDS: Yes.
Reference to project(s) and/or programme(s): ERDF.
VI.3) ADDITIONAL INFORMATION: Variant bids will be accepted at the
discretion of the Contracting Authority and in accordance with the
Instructions to Tenderers Document.
The Contracting Authority for letting this contract will be NERIF Partner
Limited or another company created or appointed by One NorthEast.
Tenderers should be aware that although the Contracting Authority for the
purposes of this procurement is One NorthEast, One NorthEast may allow one
or more of the other Regional Development Agencies and/or public bodies
and/or subsidiary companies, and/or recipients of Public monies may choose
to access the concluded Contract/Framework, without creating any
obligation of any of them to do so. In that event, the contractual
relationship would be between the approved individual accessing the
contract and the contractor.
The Contracting Authority does not bind itself to accept any tender and
withholds the right to appoint outside any contract should it be
considered to be in the best interest of the Contracting Authority.
The Contracting Authority is not liable for any costs incurred by those
expressing an interest or tendering for this opportunity.
Compliance with all legislation is required, both in the contract award
procedure and during the term of the contract.
The Contracting Authority reserves the right to extend the contract for a
period of not more than 12 months.
VI.5) DATE OF DISPATCH OF THIS NOTICE: 21.8.2008.

UK-Newcastle Upon Tyne: corporate finance and venture capital services

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