Procurement of Fund Management Services for North East Mezzanine and Loan Fund
Buyer: THE NORTH EAST FUND LIMITED
- Published
- 22 October 2024
- Submission deadline
- 22 November 2024
- Estimated value
- £16,700,000
- Place of performance
- UKC
- Procedure
- Restricted procedure
- Lots
- 1
- Notice number
- 034209-2024
- Reference
- ocds-h6vhtk-04b046
- Official source
- Official source
CPV codes
- 66122000Corporate finance and venture capital services
Description
The North East Fund seeks to appoint a professional, FCA authorised fund management organisation to deliver an SME investment fund which will make predominantly debt-based investments in revenue-generating SMEs based in the North East of England. The fund will address the persistent market gap in the provision of relatively small amounts of growth finance for SMEs in the North East of England, including unsecured loans and mezzanine / quasi-equity investment. In so doing, it will help to unlock regional growth, build confidence in the SME business base and ensure the region is a great place to start-up and scale-up a business. The Fund has the working title of "Later Stage / Mezzanine Fund" but its final name will be agreed with the appointed fund manager. TNEFL expects to make an initial commitment of investment capital to the Fund of £35m, which will be invested over an Initial Investment Period of c.5 years - equating to an average annual investment by the Fund of £7m during its first five years of operation. This quantum of investment, and the Fund's investment policy is consistent with and will address the funding gaps identified by a market evaluation exercise which was under…
Official publications
- FTS · 034209-2024 · 22 October 2024
Other tenders from THE NORTH EAST FUND LIMITED
Frequently asked questions
- What is the deadline to bid for this tender?
- The submission deadline is 22 November 2024. Check the official source, as dates can be modified.
- What is the estimated value of this tender?
- The estimated value published by the buyer is £16,700,000.
- Who is the buyer of this tender?
- The contracting authority is THE NORTH EAST FUND LIMITED (United Kingdom).
- How can I bid for public tenders in the United Kingdom?
- Bids are submitted through the official public procurement portal in the United Kingdom. El Vínculo helps you find tenders and analyse their documents; submission always happens at the official source.
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