LGPS Central Depositary and Asset Services
City of Wolverhampton Council · West Midlands
Key facts
- Contract value
- £50,000,000
- Awarded
- 20 Apr 2017
- Contract starts
- 18 Jun 2017
- Contract ends
- 30 Nov 2028
- Procedure
- Restricted procedure
- Buyer type
- Local government
Awarded to
| Supplier | Value |
|---|---|
| Northern Trust | £50,000,000 |
Description
LGPS Central Limited is seeking a provider to undertake depositary and custody services; registrar and transfer agency services; and administration services. The successful bidder will enter into one or more contracts to provide these services.
Information about LGPS Central: Eight Local Government Pension Funds, all based in the Midlands, intend to create an investment pool. Which will see the creation of a multi asset investment pool of £35 billion. The Participating Funds in the LGPS Central Investment Pool are Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, West Midlands (including the West Midlands Integrated Transport Authority) and Worcestershire. The collaboration will aim to deliver cost savings and to build on the individual participating Funds' strong investment performances by providing scale, increased resilience, knowledge sharing and robust governance and decision making arrangements. Individual participating Funds will continue to retain their separate identities and local accountability. The collaboration will offer an equal say in the oversight of the new entity to each participating Fund. LGPS Central Limited is a company jointly owned by the participating local authorities and will be responsible for providing centralised administration services.
Additional information: LGPS Central Limited 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. The procurement process will have two stages. The first stage is a selection process to select a shortlist of up to four 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 "PP16162 - LGPS Central Depositary and Asset Services". Bidders selected for the second stage will be required to submit a detailed proposal and negotiate with the authority. A preferred bidder will be selected by May 2017 and further negotiation will be undertaken to agree a final contract and pricing by the end of 2017.
Please allow sufficient time to submit your response via the e-tendering portal.
Categories (CPV)
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