Framework Agreements for Fund Management Incorporating the Northern Powerhouse Investment Fund.

Descriptions

BBB is conducting this procurement to establish frameworks of fund managers for:Lot 1 — equity funds where the authority is looking to commit between 100 000 000 GBP and 400 000 000 GBP across a number of funds;Lot 2 — debt funds where the authority is looking to commit between 100 000 000 GBP and 400 000 000 GBP across a number of funds; andLot 3 — microfinance funds where the authority is looking to commit between 20 000 000 GBP and 80 000 000 GBP across a number of fundsIt is anticipated that the first fund which will call off under the Framework Agreement by way of Mini-Competitions will be Northern Powerhouse Investment Fund (‘NPIF’), which is a fund of over £400 million to invest in smaller businesses and is subject to European funding. However the scope of the Framework extends to other funds which may be identified during the period of the Framework in the NPIF Area (including funds currently or previously operating as well as any new funds that become available).