LGPS Central Pooling and Collective Investment Vehicle Legal Advice
This is a contract result notice, not an open opportunity. Details from the official award data.
This is a large award for Business Services — above three-quarters of comparable contracts. Based on 57,319 valued Business Services tenders in our corpus.
In response to the Government’s criteria for pooling assets, Local Government Pension Scheme (LGPS) Central has decided to build a Collective Investment Vehicle (CIV) structure to pool investments.
The CIV model will include an Operator, which will be incorporated as a private company.
The Operator will also be set-up as an alternative investment fund manager (AIFM) and regulated by the Financial Conduct Authority (FCA).
The Operator will manage a Pool containing a number of vehicles, including an Authorised Contractual Scheme (ACS) and other vehicles (e.g. limited partnerships), yet to be confirmed.
A Shareholders’ Forum (consisting of the Pensions Committee Chairs of the participating authorities) will act as the Supervisory Body of the Operator.
A Practitioners’ Advisory Forum (consisting of Pension Fund Officers) will support the Shareholders’ Forum and act as the day-to-day liaison between the Shareholders’ Forum and the Operator.
The deadline for the establishment of the outlined structure is 1st April 2018.
As such, LGPS Central is now seeking advice and hands-on implementation support and delivery as set out below.
Summary Requirements: Support LGPS Central in the delivery, by 1st April 2018, of:- 1.
The establishment of the Operator and Pool Vehicles, including FCA registration 2.
The Governance and target operating model 3.
The procurement of an Asset Servicer, advisors, auditors, bankers 4.
Tax advice for both the Operator and Pool Vehicles
What the notice asks for
A Practitioners’ Advisory Forum (consisting of Pension
A Practitioners’ Advisory Forum (consisting of Pension Fund Officers) will support the Shareholders’ Forum and act as the day-to-day liaison between the Shareholders’ Forum and the Operator.
As such, LGPS Central is now seeking
As such, LGPS Central is now seeking advice and hands-on implementation support and delivery as set out below.
Support LGPS Central in the delivery, by
Support LGPS Central in the delivery, by 1st April 2018, of:-.
Sentences from the notice that state an obligation, surfaced automatically and shown in the order they appear. Not an exhaustive list — always confirm against the tender documents.
What this notice demands of you
1 named, none in explicit obligation language. Each one is quoted from the notice.
The Operator will also be set-up as an alternative investment fund manager (AIFM) and regulated by the Financial Conduct Authority (FCA).
Matched against the notice text, so this is a floor — the tender pack will demand things the notice never mentions. “Says must” means the quoted sentence itself used obligation language; anything ambiguous is left as a mention.
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- OCID
- e2aab92c-3de0-4ee2-a96a-f3ae342ecff1
- Stage
- contract · Contract
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- Buyer ref
- PPX16047
Contains public sector information licensed under the Open Government Licence v3.0. Source data © Crown copyright.
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