Investment Management Services

{
  "buyer": {
    "id": "GB-CFS-246166",
    "name": "South Yorkshire Pensions Authority"
  },
  "date": "2025-02-20T09:40:45Z",
  "id": "25fd14ca-b2c9-4705-9c40-e51437864793-828353",
  "initiationType": "tender",
  "language": "en",
  "ocid": "ocds-b5fd17-fc3a8c9f-4150-4b1e-8700-dfb697f5a009",
  "parties": [
    {
      "address": {
        "countryName": "ENG",
        "locality": "Barnsley, South Yorkshire",
        "postalCode": "S71 1HG",
        "streetAddress": "Oakwell House, 2 Beevor Court, Pontefract Road"
      },
      "contactPoint": {
        "email": "pecomms@sypa.org.uk",
        "name": "Michael Littlechild"
      },
      "details": {
        "url": "https://www.sypensions.org.uk/"
      },
      "id": "GB-CFS-246166",
      "identifier": {
        "legalName": "South Yorkshire Pensions Authority"
      },
      "name": "South Yorkshire Pensions Authority",
      "roles": [
        "buyer"
      ]
    }
  ],
  "tag": [
    "tender"
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  "tender": {
    "additionalClassifications": [
      {
        "description": "Pension investment services",
        "id": "66131100",
        "scheme": "CPV"
      },
      {
        "description": "Portfolio management services",
        "id": "66140000",
        "scheme": "CPV"
      },
      {
        "description": "Pension fund management services",
        "id": "66141000",
        "scheme": "CPV"
      }
    ],
    "classification": {
      "description": "Banking and investment services",
      "id": "66100000",
      "scheme": "CPV"
    },
    "contractPeriod": {
      "endDate": "2039-09-30T23:59:59Z",
      "startDate": "2025-10-01T00:00:00+01:00"
    },
    "datePublished": "2025-02-20T09:40:44Z",
    "description": "SYPA is seeking to appoint an investment manager (authorised by the Financial Conduct Authority) to work in partnership with SYPA to deliver SYPA\u0027s planned investments into domestic housing within SYPA\u0027s Place Based Impact allocation. SYPA has allocated an initial c.\u00a375m of un-levered equity to this strategy with the objective to support the direct development of affordable, single-family housing in the geographical region of South Yorkshire through a build to rent model. \r\n\r\nSYPA aims to facilitate the building of high-quality and sustainable (as measured by an Energy Performance Certificate of A-C) private rental sector housing, with a proportion of units available to eligible tenants at a Discount to Market Rent. SYPA understands that affordability is a key concern for many, and SYPA intends to work with the investment manager to define the appropriate measures of affordability and the achievable Discount to Market Rent across the South Yorkshire region. Through this planned investment, SYPA will aim for a geographical spread of new housing across the four South Yorkshire districts of Barnsley, Doncaster, Rotherham and Sheffield. \r\n\r\nThe partnership\u0027s objective will be to provide SYPA with sustainable long-term income and capital growth, secured against a portfolio of primarily new built private rental sector units in South Yorkshire. Once operationally stable, SYPA aims for the investment to deliver an income yield of 3-4% per annum and a target annual return of 6%. SYPA does not intend to become a registered social housing provider and/or landlord. The total SYPA allocation to this partnership is expected to grow as it is rebalanced in line with the overall pension fund as additional capital will be allocated to the partnership for investment to maintain its target weight within the overall strategic asset allocation. The value of the investment will be a minimum of \u00a375m and could increase to up to \u00a395m, as SYPA aims to maintain a 0.75% weighting of total assets to this mandate.  \r\n\r\nSYPA does not intend the partnership vehicle to take on planning risk but intends to facilitate the development of housing through investing in a combination of forward funding or forward purchases and / or standing investments. The investment manager will oversee the facilities management and rent collection from these properties where SYPA expects to receive quarterly rental income from the properties, whilst providing institutional funding to meet the affordable housing needs within the South Yorkshire area. The sale of assets will not be prohibited, should the manager deem this to be in the interest of the partnership, however this is not the primary objective. \r\n\r\nFurther details are set out in the procurement documents.",
    "documents": [
      {
        "datePublished": "2025-02-20T09:40:44Z",
        "description": "Opportunity notice on Contracts Finder",
        "documentType": "tenderNotice",
        "format": "text/html",
        "id": "1",
        "language": "en",
        "url": "https://www.contractsfinder.service.gov.uk/Notice/25fd14ca-b2c9-4705-9c40-e51437864793"
      },
      {
        "description": "Additional data",
        "id": "2",
        "url": "https://uk.eu-supply.com/app/rfq/rwlentrance_s.asp?PID=90654\u0026B=SYPA"
      },
      {
        "description": "User / Company",
        "id": "3",
        "url": "https://uk.eu-supply.com/ctm/Company/CompanyInformation/Index/104506"
      }
    ],
    "id": "20250220094038-104506",
    "items": [
      {
        "deliveryAddresses": [
          {
            "postalCode": "S71 1HG"
          },
          {
            "countryName": "British Oversea Territories"
          },
          {
            "countryName": "Channel Islands"
          },
          {
            "countryName": "Europe"
          },
          {
            "countryName": "Isle of Man"
          },
          {
            "countryName": "Rest of the World"
          },
          {
            "countryName": "United Kingdom"
          }
        ],
        "id": "1"
      }
    ],
    "mainProcurementCategory": "services",
    "minValue": {
      "amount": 8000000,
      "currency": "GBP"
    },
    "procurementMethod": "selective",
    "procurementMethodDetails": "Negotiated procedure",
    "status": "active",
    "suitability": {
      "sme": true,
      "vcse": false
    },
    "tenderPeriod": {
      "endDate": "2025-03-28T17:00:00Z"
    },
    "title": "Investment Management Services",
    "value": {
      "amount": 16000000,
      "currency": "GBP"
    }
  }
}