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

Contract Award

General Information
Country:   United Kingdom
City/Locality:   NEWCASTLE UPON TYNE
Notice/Contract Number:   eu:301411-2009
Publication Date:   Nov 1, 2009
Buyer:   ONE NORTHEAST AND/OR OTHER CONTRACTING AUTHORITIES AS SET OUT IN SECTION VI.3 OF THIS NOTICE
Original Language:   English

Contact Information
Address:   ONE NORTH EAST AND/OR OTHER CONTRACTING AUTHORITIES AS SET OUT IN SECTION VI.3 OF THIS NOTICE
NEWCASTLE UPON TYNE, UNITED KINGDOM
United Kingdom
Web Site:   www.onenortheast.co.uk

Goods, Works and Services

 

Summary

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Notice Type: 2280 - Contract award
Regulation of Procurement: European Communities, with participation by GPA countries
EU Official Journal Publication: 210/2009, #301411-2009
Referenced Document Number: 96958-2009
Contract Nature: Service contract
Procedure Type: Contract awards
Type of Bid Required: Not applicable
Awarding Criteria: The most economic tender
Successful Bidder: NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: IP Group plc, 24 Cornhill, UK-London EC3V 3ND.
Northstar Equity Investors, 1 St James Gate, UK-Newcastle Upon Tyne NE1
4AD.
YFM Private Equity Ltd, Delphian House, UK-Manchester M3 5AP.
E-Synergy Ltd, 6 New Bridge Street, UK-London EC4V 6AB.
Finance Wales, Oakleigh House, UK-Cardiff CF10 3DQ.
NEL Fund Managers Limited, Ground Floor, Victoria House, Hampshire Court,
UK-Newcastle Upon Tyne NE4 7YJ.
Northstar Equity Investors, 1 St James Gate, UK-Newcastle Upon Tyne NE1
4AD.
YFM Private Equity Ltd, Delphian House, UK-Manchester M3 5AP.
Finance Wales, Oakleigh House, UK-Cardiff CF10 3DQ.
NEL Fund Managers Limited, Ground Floor, Victoria House, Hampshire Court,
UK-Newcastle upon Tyne NE4 7YJ.
NVM Private Equity Limited, Princess Square, Northumberland House,
UK-Newcastle upon Tyne NE1 8ER.
YFM Private Equity Ltd, Delphian House, UK-Manchester M3 5AP.

Original Text

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CONTRACT AWARD NOTICE
Services
SECTION I: CONTRACTING AUTHORITY
I.1) NAME, ADDRESSES AND CONTACT POINT(S): One North East and/or other
Contracting Authorities as set out in section VI.3 of this Notice, 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.co.uk.
I.2) TYPE OF THE CONTRACTING AUTHORITY AND MAIN ACTIVITY OR ACTIVITIES:
Regional or local agency/office.
Other: Regional Development Agency for North East England.
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 Management Services for Regional Venture Capital and Loan Funds.
II.1.2) Type of contract and location of works, place of delivery or of
performance: Services.
Service category: No 6.
Main place of performance: The services will be predominantly delivered in
North East England 'UKC' however other Contracting Authorities accessing
the framework agreement may require services to be delivered in other
geographical areas.
NUTS code UK.
II.1.3) The notice involves: The conclusion of a framework agreement.
II.1.4) Short description of the contract or purchase(s): A fund
management services multi-supplier framework agreement is being procured
for a number of fund managers to provide services on a call off basis to
deliver a range of regional Venture Capital and Loan Funds in the North
East of England, with the total value of investment capital anticipated to
be initially circa 125 000 000 GBP. In addition the Contracting Authority
or those named in sections II.7 and VI.2 may from time to time call off
services under the terms of the framework agreement for additional funds
over and above the estimated initial 125 000 000 GBP of investment
capital.
This framework is principally intended to provide fund management and
portfolio management services for the investment funds which will be
established by the North East of England JEREMIE holding fund company. It
may also be used to provide fund or portfolio management services for
other projects, including those relating to the legacy funds and
portfolios generated by venture capital and loan funds currently or
previously operating in the North East of England.
JEREMIE is the Joint European Resources for Micro to Medium Enterprises
initiative of the European Commission and the European Investment Fund,
which is designed to increase the availability of finance to micro, small
and medium enterprises in the European Union. The North East of England
region intends to establish a holding fund under the JEREMIE initiative
and for it to raise initially 125 000 000 GBP of investment capital, for
investment and realisation over an approximately ten year period beginning
in 2009.
Because the JEREMIE holding fund is not yet established, the exact
composition and focus of individual investment funds has not been
finalised. For this reason, and because the framework will potentially be
used for other projects, One NorthEast wishes to appoint fund managers to
a framework to deliver fund and portfolio management services across three
broad areas: (1) technology; (2) early stage and (3) later stage.
These broad areas are individual Lots for the purposes of this procurement
exercise and fund managers are invited to submit pre-qualification
questionnaires in respect of any one or more Lot. Panels of fund managers
will be appointed to the framework in respect of each Lot and individual
fund management contracts will be awarded following further competition
within or across the Lots. Provisional estimates of the amount of
investment capital which will be allocated to each Lot are: Lot 1: 20 000
000 GBP- 50 000 000 GBP; Lot 2: 5 000 000 GBP - 30 000 000 GBP and Lot 3:
30 000 000 GBP- 65 000 000 GBP.
The individual funds which will be establihed by teh JEREMIE holding fund
may range in size from approximately 2 000 000 GBP to 55 000 000 GBP. The
initial number of funds established is likely to be between 3 and 6.
Specific capabilities relevant to each Lot will have to be demonstrated by
fund managers in order to be successfully appointed to the panel for each
Lot. In relation to all Lots, the services required of fund managers will
include:
1. operating one or more funds in accordance with the terms of the fund
management agreement entered into with the JEREMIE holding fund management
company or other contracting authority;
2. identifying SMEs which are eligible for investment in accordance with
the rules of the fund, conducting appropriate commercial and technical due
diligence and structuring deals;
3. generating deal flow and working with investee companies in the North
East of England before and after concluding investments;
4. concluding equity, quasi-equity and debt investments (as appropriate to
the fund’s investment type), ranging in value from 10 000 GBP to 1 500 000
GBP, in eligible SMEs located in the North East of England;
5. maximising, where appropriate, the additional investment made by
private sector co-investors into investee companies;
6. managing the investment portfolio to add value to investee companies
and achieve profitable exits for the fund;
7. managing the investment fund so as to maximise the returns to the
investors/legacy fund while minimising the operational costs and the costs
to investee companies;
8. monitoring the investment portfolio and providing regular reports on
investment activity, fund performance and related outputs to the JEREMIE
holding fund management company (or other contracting authority); and
9. marketing the investment fund to the appropriate market sectors and
professional services intermediaries.
It is estimated that approximately 3 to 9 contracts will be awarded across
the 3 Lots over the 4 year term of the framework. The contracts will be of
varying values and indicative fee ranges are set out against the
respective Lots.
II.1.5) Common procurement vocabulary (CPV): 66122000, 66131000,
66130000, 48812000, 66000000, 66100000, 66120000, 66121000, 66150000,
66151000, 66152000, 66170000, 66171000, 66172000, 66190000.
II.1.6) Contract covered by the Government Procurement Agreement (GPA):
Yes.
SECTION IV: PROCEDURE
IV.1) TYPE OF PROCEDURE
IV.1.1) Type of procedure: Restricted.
IV.2) AWARD CRITERIA
IV.2.1) Award criteria: The most economically advantageous tender in
terms of
1. Fund Management. Weighting: 35.
2. Pricing. Weighting: 30.
3. Delivery. Weighting: 35.
IV.2.2) An electronic auction was used: No.
IV.3) ADMINISTRATIVE INFORMATION
IV.3.1) File reference number attributed by the Contracting Authority:
OJEU09/10-002.
IV.3.2) Previous publication(s) concerning the same contract: Prior
information notice
Notice number in OJ: 2009/S 7-008708 of 9.1.2009
Contract notice
Notice number in OJ: 2009/S 67-096958 of 3.4.2009.
SECTION V: AWARD OF CONTRACT
CONTRACT NO: OJEU09/10-002
TITLE: Fund Management Services for Regional Venture Capital and Loan
Funds.
V.1) DATE OF CONTRACT AWARD: 16.9.2009.
V.2) NUMBER OF OFFERS RECEIVED: 9.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: IP Group plc, 24 Cornhill, UK-London EC3V 3ND.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
CONTRACT NO: OJEU09/10-002
TITLE: Fund Management Services for Regional Venture Capital and Loan
Funds.
V.1) DATE OF CONTRACT AWARD: 16.9.2009.
V.2) NUMBER OF OFFERS RECEIVED: 9.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: Northstar Equity Investors, 1 St James Gate, UK-Newcastle Upon
Tyne NE1 4AD.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
TITLE: Fund Management Services for Regional Venture Capital and Loan
Funds.
V.1) DATE OF CONTRACT AWARD: 16.9.2009.
V.2) NUMBER OF OFFERS RECEIVED: 9.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: YFM Private Equity Ltd, Delphian House, UK-Manchester M3 5AP.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
CONTRACT NO: OJEU09/10-002
TITLE: Fund Management Services for Regional Venture Capital and Loan
Funds.
V.1) DATE OF CONTRACT AWARD: 16.9.2009.
V.2) NUMBER OF OFFERS RECEIVED: 9.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: E-Synergy Ltd, 6 New Bridge Street, UK-London EC4V 6AB.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
TITLE: Fund Management Services for Regional Venture Capital and Loan
Funds.
V.1) DATE OF CONTRACT AWARD: 16.9.2009.
V.2) NUMBER OF OFFERS RECEIVED: 9.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: Finance Wales, Oakleigh House, UK-Cardiff CF10 3DQ.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
TITLE: Fund Management Services for Regional Venture Capital and Loan
Funds.
V.1) DATE OF CONTRACT AWARD: 16.9.2009.
V.2) NUMBER OF OFFERS RECEIVED: 9.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: NEL Fund Managers Limited, Ground Floor, Victoria House,
Hampshire Court, UK-Newcastle Upon Tyne NE4 7YJ.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
TITLE: Fund Management Services for Regional Venture Capital and Loan
Funds.
V.1) DATE OF CONTRACT AWARD: 16.9.2009.
V.2) NUMBER OF OFFERS RECEIVED: 9.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: Northstar Equity Investors, 1 St James Gate, UK-Newcastle Upon
Tyne NE1 4AD.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
TITLE: Fund Management Services for Regional Venture Capital and Loan
Funds.
V.1) DATE OF CONTRACT AWARD: 16.9.2009.
V.2) NUMBER OF OFFERS RECEIVED: 9.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: YFM Private Equity Ltd, Delphian House, UK-Manchester M3 5AP.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
TITLE: Fund Management Services for Regional Venture Capital and Loan
Funds.
Lot 3 - Later Stage Funds.
V.1) DATE OF CONTRACT AWARD: 16.9.2009.
V.2) NUMBER OF OFFERS RECEIVED: 5.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: Finance Wales, Oakleigh House, UK-Cardiff CF10 3DQ.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
TITLE: Fund Management Services for Regional Venture Capital and Loan
Funds.
Lot 3 - Later Stage Funds.
V.1) DATE OF CONTRACT AWARD: 16.9.2009.
V.2) NUMBER OF OFFERS RECEIVED: 5.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: NEL Fund Managers Limited, Ground Floor, Victoria House,
Hampshire Court, UK-Newcastle upon Tyne NE4 7YJ.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
TITLE: Fund Management Services for Regional Venture Capital and Loan
Funds.
Lot 3 - Later Stage Funds.
V.1) DATE OF CONTRACT AWARD: 16.9.2009.
V.2) NUMBER OF OFFERS RECEIVED: 5.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: NVM Private Equity Limited, Princess Square, Northumberland
House, UK-Newcastle upon Tyne NE1 8ER.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
TITLE: Fund Management Services for Regional Venture Capital and Loan
Funds.
Lot 3 - Later Stage Funds.
V.1) DATE OF CONTRACT AWARD: 16.9.2009.
V.2) NUMBER OF OFFERS RECEIVED: 5.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR TO WHOM THE CONTRACT HAS BEEN
AWARDED: YFM Private Equity Ltd, Delphian House, UK-Manchester M3 5AP.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
SECTION VI: COMPLEMENTARY INFORMATION
VI.1) CONTRACT RELATED TO A PROJECT AND/OR PROGRAMME FINANCED BY
COMMUNITY FUNDS: Yes.
Reference to project(s) and/or programme(s): European Regional Development
Funds - Programme 2007-2013.
VI.2) ADDITIONAL INFORMATION: Variant bids will be accepted at the
discretion of the Contracting Authority and in accordance with the
Instructions to Tenderers Document.
Economic Operators 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.
In addition the Contracting Authority may novate this contract/framework
to one of its wholly owned subsidiaries and/or any company, organisation
or other Special Purpose Vehicles which the Agency has an ownership
interest in or otherwise participates in with the consent of the Secretary
of State’s consent pursuant to Section 5 of the Regional Development
Agencies Act 1998(“Section 5 Entity”).
Where the Agency is creating Framework Agreements the Agency may allow
other Contracting Authorities to access its Framework Agreements (at any
time during the term of the Framework).
The following Contracting Authorities may be permitted to access the
Framework subject to them accepting the conditions detailed below:
Contract Authorities.
I wholly owned subsidiaries and/or any company, organisation or other
Special Purpose Vehicles which the Agency has an ownership interest in or
otherwise participates in with the consent of the Secretary of State’s
consent pursuant to Section 5 of the Regional Development Agencies Act
1998(“Section 5 Entity”);
II any such Section 5 Entity that may be created during the life of the
Framework Arrangement;
III any unincorporated body, group, committee, other similar organisation
in which the Agency participates and/or for which the Agency is
accountable;
IV any other English Regional Development Agency and/or public bodies;
V The Agency’s Sub Regional Partnerships of County Durham, Tyne and Wear,
Northumberland and Tees Valley, which the Relevant Local Authority is
accountable body and Contracting Authority;
VI Business Link North East;
VII Government Office North East;
VIII any party named in the Contract Notice published for this contract.
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.
One NorthEast reserves the right to procure repeat services of a similar
nature to the services in this contract notice without a further call for
competition pursuant to Regulation 14 (1) (d) (ii) of the Public Contracts
Regulations 2006.
VI.3) PROCEDURES FOR APPEAL:
VI.3.3) Service from which information about the lodging of appeals may
be obtained: One North East, Stella House, UK-Newcastle Upon Tyne NE15
8NY. E-mail: e-tendering@onenortheast.co.uk. URL: www.onenortheast.co.uk.
Fax +44 1912296201.
VI.4) DATE OF DISPATCH OF THIS NOTICE: 28.10.2009.
Please note that this notice is for your information only.
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