CORP Transition Management Services Framework for Lancashire County Pension Fund.

Descriptions

Lancashire County Council, as the administering authority for the Lancashire County Pension Fund (LCPF), is seeking to appoint a number of transition management service providers via a Framework Agreement. Over the next 4 years, the Council will be reviewing various aspects of the investment arrangements of the LCPF, and as a result expects to make significant changes to its strategic asset allocation, and also potentially its stable of investment managers. At this time the Council is seeking to appoint a number of experienced transition management service providers, via a Framework Agreement. Once the Framework Agreement is in place, the Council will conduct a lowest price mini-competition exercise between providers whenever it requires transition management services. Lowest price at mini-competition stage will be defined as the total of the anticipated loss in value of assets transitioned and any professional fee payable to the transition manager. All those suppliers within the frameworks capable of meeting the particular need will be invited to bid. Individual transition exercises are expected to range from 50 000 000 GBP to 5 000 000 000 GBP in market value of underlying assets; there may be multiple exercises during the course of the appointment.