Greater Manchester Combined Authority Tender

The Evergreen, Evergreen 2 And Low Carbon Sub-funds Deliver £150m Of Commercial Property Funding Into The North West And Greater Manchester Region. These Sub-funds Are Designed To Support Eligible Urban Projects Which Demonstrate A Clear Fit With The Underlying Objectives Of The Respective Erdf Programmes It Supports. The Sub-funds Are Now In Recycling Phase And Are Procuring For Investment Advisers To Implement Its Recycling Investment Strategy. The Evergreen Fund Was Established Under The 2007-13 Erdf Operational Programme And Invests £60m Capital Into The North West (exc Merseyside) By Way Of Senior, Mezzanine And Subordinated Debt Products Over A Tenor Of Up To 5 Years. Investments Typically Include Grade A/b Office Stock, Warehousing And Infrastructure/logistics Schemes. Evergreen 2 And Low Carbon Were Established Under The 2014-20 Erdf Operational Programme And Hold Allocations Of £60m And £30m Respectively To Invest In The Greater Manchester Region. Evergreen 2 Focuses On Investments Into High-end Laboratory And Office Floorspace To Support Gm’s Science And Innovation Economy, And Energy Efficient New Office Stock. Low Carbon Will Focus On Energy Efficient New Office Stock And Energy Generation Assets In The Gm Region To Further Gm’s Low Carbon Aspirations. Over The Next 4 Years, The Investment Adviser Will Be Expected To Market The Funds, Ensure Continuous Investment Into Eligible Schemes And Manage The Existing Portfolio. The Authorities Have Engaged Gmca To Act As Their Delivery Agent To Manage The Administrative Aspects Of This Procurement Process. Gmca Is Not The Procuring Contracting Authority For This Procurement Process And Will Not Be Party To Any Contract(s) Entered Into. This Procurement Process Has 2 Lots: A) Lot 1 – The Provision Of The Services To The Evergreen And Evergreen 2 Sub-funds; And B) Lot 2 - The Provision Of The Services To The Low Carbon Sub-fund. The Contractual Term Will Be 48 Months With 2 X 12 Month Permissible Extensions. The Scope Of The Services May Expand And / Or Contract Over The Term Of The Contract(s) To Reflect Changes To The Funding That Is Made Available. Such Changes May Include, In Particular: (a) Increases Of Up To A Maximum 100% Of The Value Of The Funds That Are Made Available To The Evergreen And Evergreen 2 And Low Carbon Sub-funds (from Erdf Funds And/or Other Funding Sources). The Currently Available Funds Are £60m For Evergreen, £60m For Evergreen 2 And £30m For Low Carbon. An Increase Of Up To 100% Of The Value Of The Sub-funds Would Take The Sub-fund Values Up To A Maximum Amount Of £120m For Evergreen And £120m For Evergreen 2; And £60m For Low Carbon (b) The Reallocation Of Available Funds Between The Evergreen 2 And Low Carbon Sub-funds (as Appropriate) Based On Factors Impacting The Performance Of The Relevant Sub-fund Including, But Not Limited To, The Successful Tenderer's Performance And/or Available Pipeline. Tenderers Should Ensure That They Are Capable Of Performing The Expanded And / Or Contracted Services And That The Pricing Submission In The Tender For The Lot (to Become The Contractual Pricing) Will Apply Equally To Any Expanded And / Or Contracted Scope (on A Pro Rata Basis, Where Applicable). Full Tender Documentation Including Invitation To Tender, Specifications, Contingent Loan Agreements, Buyers Terms And Conditions Of Contract And Background To Fund Documents Can Be Accessed Through The Chest E Procurement Portal Https://www.the-chest.org.uk/ This Procurement Process Is Being Run By Greater Manchester Combined Authority (gmca) On Behalf Of Jointly By The Following 3 Contracting Authorities, In Accordance With Regulation 38 Of The Public Contracts Regulations 2015 (“pcr 2015”): A) North West Evergreen Limited Partnership (“eg”) Acting By Its General Partner North West Evergreen (gp) Limited, Responsible For Managing The Evergreen Sub-fund; B) Greater Manchester Evergreen 2 Limited Partnership (“eg2”) Acting By Its General Partner Greater Manchester Evergreen 2 (gp) Limited, Responsible For Managing The Evergreen 2 Sub-fund; And C) Greater Manchester Low Carbon Udf Limited Partnership (“lc”) Acting By Its General Partner Greater Manchester Low Carbon Udf (gp) Limited, Responsible For Managing The Low Carbon Sub-fund.