Published
UPN-00618 - Future Places Fund
Notice number: ocds-h6vhtk-06ce8c
KEY INFORMATION
- Submission deadline
- • Sep 15, 2026
- Location
- 🇬🇧 United Kingdom
- Contracting authority
- The West of England Combined Authority
- Accepted Languages
- English
- Tender type
- Services
- Contract Value
- Published date
- Aug 20, 2026
TENDER DESCRIPTION
This tender seeks a Prime Supplier to act as an investment adviser for the Future Places Fund, responsible for the full Core Fund Lifecycle, encompassing Origination, Underwriting, Portfolio Management, and Impact Reporting, alongside managing distressed scenarios by translating risk assessments into recovery paths and assisting with Step-In Rights and Asset Capture. Bidders must demonstrate robust financial standing, including a current ratio of at least 1:1 and an annual turnover of at least twice the contract's annual value, coupled with a low to moderate financial risk profile evidenced by specific Dun & Bradstreet ratings. Technical requirements mandate tender submission via the Atamis e-Procurement portal, registration on a Central Digital Platform (CDP), and stringent compliance with Data Protection Legislation, including specific technical facilities and measures to ensure data confidentiality, integrity, availability, and resilience. The contract will commence on November 11th, 2026, with an initial three-year term running until October 26th, 2029, and includes two optional one-year extensions, potentially extending the total duration to five years until October 26th,…
TENDER BRIEF
The contract timeline includes a contract start date of November 11th, 2026.
The Core Fund Lifecycle Commencement, covering Origination, Underwriting, Portfolio Management, and Impact Reporting, begins on October 26th, 2026, and concludes on October 26th, 2029, representing an initial three-year core term. The contract's initial term is three years.
There are two optional one-year contract extensions, exercisable at the Authority's discretion:
- Optional Contract Extension Year 1: October 26th, 2029, to October 26th, 2030.
- Optional Contract Extension Year 2: October 26th, 2030, to October 26th, 2031.
Therefore, the total potential duration of the contract, including all extensions, is five years.
Key procurement process milestones and target dates are as follows:
- Issue Tender Notice and publish procurement documents: August 20th, 2026.
- Clarification period ends: September 3rd, 2026.
- Authority Clarification responses due: September 8th, 2026.
- Tender submission deadline: 12:00 midday, September 15th, 2026.
- Evaluate bids and internal approval: September 15th, 2026, to October 24th, 2026.
- Announce preferred bidder: October 26th, 2026.
- Contract award (after 8 working day standstill period): November 6th, 2026.
Sources
- 1UPN-00618 - Future Places Fund - Invitation to Tender.pdf — “which must be submitted by the Tenderer can be found in Paragraph 5.2 (Requirements Checklist) in this document. 4. Procurement timescales 4.1. The key activities and target dates for the procurement process are stated i…”
- 2UPN-00618 - ITT Appendix A - Specification.pdf — “is escalated to Authority officers to evaluate the activation of pre- negotiated security packages. Actionable Recovery Paths: In a distressed scenario, the Fund Advisor is responsible for translating the technical risk…”
- 3UPN-00618 - ITT Appendix G - Future Places Fund - Fund Adviser Agreement (Contract Terms and Conditions).pdf — “Initial Term or the then-current Extended Term (as applicable). Any extension is subject to satisfactory performance and the availability of budget. 2.3 2.4 3 3.1 Unless the Agreement is terminated earlier in accordance…”
The core scope of work for this tender involves the role of a Prime Supplier responsible for delivering the Future Places Fund contract. This encompasses the Core Fund Lifecycle Commencement, which includes Origination, Underwriting, Portfolio Management, and Impact Reporting. Additionally, the Fund Adviser has responsibilities in distressed scenarios, specifically translating technical risk assessments into actionable recovery paths and assisting in the activation of Step-In Rights and Asset Capture. The initial contract term is for three years, with potential extensions for up to an additional two years (1+1).
Sources
- 1UPN-00618 - Future Places Fund - Market Engagement Event Slides - Final.pdf — “Prime Supplier, responsible for delivering the Future Places Fund contract The Open Procedure will be used for this procurement under PA23 regulations. The provisional tender criteria will be made up of 70% Technical Res…”
- 2UPN-00618 - ITT Appendix A - Specification.pdf — “is escalated to Authority officers to evaluate the activation of pre- negotiated security packages. Actionable Recovery Paths: In a distressed scenario, the Fund Advisor is responsible for translating the technical risk…”
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Unlock tender brief for freeTENDER DOCUMENTS
DIRECTORY • 16 FILES
- UPN-00618 - Future Places Fund - Market Engagement Event Slides - Final.pdf1.1 MBPDF
- 20260903 - UPN-00618 - FPF Clarification Question Tracker v2 (Final).xlsx46 KBXLSX
- 20260827 - UPN-00618 - FPF Clarification Question Tracker v1.xlsx44 KBXLSX
and 9 other documents
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Yes, foreign companies can apply as long as they meet all the requirements set out in the procurement documents.
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