Awarded contract

GB-Sheffield: Framework Agreements for Fund Management Incorporating the Midland Engine Investment Fund - Lot 4

Details

Value
£23,000,000
Duration
10 years
Topic
Financial and insurance services
Published
13 July 2018

Tender description

Midland Engine Investments Limited has conducted this procurement for a fund manager for:- Lot 4 Proof of concept and early stage fund within the framework range value of £20m to £40m across a number of funds

Timeline

  1. Completed: Award date12 December 2017
  2. Completed: Award published13 July 2018
    Current notice
  3. Next: Contract expiry date19 February 2028in 17 months

About the buyer

British Business Bank is a government-owned economic development bank and non-departmental public body, wholly owned by the Department for Business and Trade. A supplier management policy sets out how the Bank runs its contracts. Procurement follows the Public Contract Regulations 2015 and the Procurement Act 2023. Larger opportunities are advertised through the Find a Tender service. Public sector frameworks let suppliers win call-off contracts through mini-competitions. A contracts register, updated every six months, lists what the Bank has awarded. Monthly spend above a set threshold is published for transparency. Suppliers can also read the Bank's guide to public sector tendering.

Procurement spend from central entities makes up 66% of overall UK public spend.

Over the past 5 years, most of British Business Bank's contract awards have been in business services, financial and insurance services and software and information systems.

Relevant CPV codes

  • 66000000 · Financial and insurance services
  • 66100000 · Banking and investment services
  • 66120000 · Investment banking services and related services
  • 66122000 · Corporate finance and venture capital services
  • 66190000 · Loan brokerage services

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Decision makers

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