Awarding of a portfolio management mandate

The purpose of this tender is the provision of portfolio management services on behalf of Fonds de compensation commun au régime général de pension (FDC), which set up an umbrella investment company with variable capital – specialised investment fund in 2007 (in accordance with the amended law of 13 February …

CPV: 66000000 Financial and insurance services
Place of execution:
Awarding of a portfolio management mandate
Awarding body:
Fonds de compensation commun au régime général de pension
Award number:
2302585

1. Buyer

1.1 Buyer

Official name : Fonds de compensation commun au régime général de pension
Legal type of the buyer : Body governed by public law
Activity of the contracting authority : Social protection

2. Procedure

2.1 Procedure

Title : Awarding of a portfolio management mandate
Description : The purpose of this tender is the provision of portfolio management services on behalf of Fonds de compensation commun au régime général de pension (FDC), which set up an umbrella investment company with variable capital – specialised investment fund in 2007 (in accordance with the amended law of 13 February 2007 on specialised investment funds). More precisely, the tender is related to the awarding of one (1) global sustainable unlisted infrastructure mandate. FDC is looking for an active mandate outperforming the benchmark associated to the given mandate. In addition, the objective of the mandate is to make unlisted infrastructure investments primarily in clean energy and related sectors, as well as unlisted infrastructure investments in other sectors determined to be sustainable and environmentally friendly. Regardless the investment strategy offered, the proposal must always comply with the investment guidelines as stated in the Issue Document as well as with the terms and conditions of the Investment Management Agreement being part of the tender documents as Appendices 6 and 7. The amount of assets of the mandate is indicative only and may vary during the execution of the mandate. The term of the mandate shall be three (3) consecutive years with the possibility of renewal from year to year except in the event of early termination by FDC or the awarded tenderer by means of a three months’ notice. The maximum duration of the mandate shall be ten (10) years. Proposals will be selected on the basis of the economically most advantageous proposal. The detailed selection and evaluation criteria of proposals, the main stages of this tender as well as any other terms and conditions relating to this tender are specified in the Tendering Procedure and Guidelines, which can be downloaded from the public procurement portal ( www.marches-publics.lu). FDC may also assign one stand-by mandate. The definition and characteristics of a stand-by mandate are set out in section 2.5 of the Tendering Procedure and Guidelines.
Procedure identifier : 074bf91c-ff11-4794-a45d-d372f9dd1001
Previous notice : 738534-2023
Internal identifier : 2302585
Type of procedure : Open
The procedure is accelerated : no
Justification for the accelerated procedure :
Main features of the procedure :

2.1.1 Purpose

Main nature of the contract : Services
Main classification ( cpv ): 66000000 Financial and insurance services

2.1.4 General information

Additional information : Modalités de retrait du dossier : Tender documents are available for download on the public procurement portal, with the exception of the Questionnaire and Performance file (Appendix 1) and the Investment Management Agreement (Appendix 6). For reasons of confidentiality of the information made available through these documents, given documents must be requested separately by any interested company via the public procurement portal, attaching the duly completed template for requesting the tender documents (Appendix 8), which is part of the downloadable tender documents. The detailed procedure for downloading and requesting all tender documents is specified in the Tendering Procedure and Guidelines. Réception des offres/candidatures : Proposals must be signed and submitted in electronic form via the public procurement portal before the closing date and time indicated in the Tendering Procedure and Guidelines, being 31 January 2024 16.00 (CET). Proposals received after this deadline or not validly signed will be rejected by FDC. The detailed procedure for signing and submitting a proposal is specified in the Tendering Procedure and Guidelines. Conditions de participation : The minimum requirements for participation in the tender are specified under section 2.8 of the Tendering Procedure and Guidelines.
Legal basis :
Directive 2014/24/EU

5. Lot

5.1 Lot technical ID : LOT-0001

Title : Awarding of a portfolio management mandate
Description : The purpose of this tender is the provision of portfolio management services on behalf of Fonds de compensation commun au régime général de pension (FDC), which set up an umbrella investment company with variable capital – specialised investment fund in 2007 (in accordance with the amended law of 13 February 2007 on specialised investment funds). More precisely, the tender is related to the awarding of one (1) global sustainable unlisted infrastructure mandate. FDC is looking for an active mandate outperforming the benchmark associated to the given mandate. In addition, the objective of the mandate is to make unlisted infrastructure investments primarily in clean energy and related sectors, as well as unlisted infrastructure investments in other sectors determined to be sustainable and environmentally friendly. Regardless the investment strategy offered, the proposal must always comply with the investment guidelines as stated in the Issue Document as well as with the terms and conditions of the Investment Management Agreement being part of the tender documents as Appendices 6 and 7. The amount of assets of the mandate is indicative only and may vary during the execution of the mandate. The term of the mandate shall be three (3) consecutive years with the possibility of renewal from year to year except in the event of early termination by FDC or the awarded tenderer by means of a three months’ notice. The maximum duration of the mandate shall be ten (10) years. Proposals will be selected on the basis of the economically most advantageous proposal. The detailed selection and evaluation criteria of proposals, the main stages of this tender as well as any other terms and conditions relating to this tender are specified in the Tendering Procedure and Guidelines, which can be downloaded from the public procurement portal ( www.marches-publics.lu). FDC may also assign one stand-by mandate. The definition and characteristics of a stand-by mandate are set out in section 2.5 of the Tendering Procedure and Guidelines.
Internal identifier : 1

5.1.1 Purpose

Main nature of the contract : Services
Main classification ( cpv ): 66000000 Financial and insurance services

5.1.6 General information

Procurement Project not financed with EU Funds.
The procurement is covered by the Government Procurement Agreement (GPA) : yes

5.1.10 Award criteria

Criterion :
Type : Quality
Name :
Description : Tenderers experience and expertise of the staff dedicated to the management of the given mandate: weighting of 20%
Weight (percentage, exact) : 20
Criterion :
Type : Quality
Name :
Description : Investment process: weighting of 60%
Weight (percentage, exact) : 60
Criterion :
Type : Price
Name :
Description : Total management fees: weighting of 20%
Weight (percentage, exact) : 20
Description of the method to be used if weighting cannot be expressed by criteria :
Justification for not indicating the weighting of the award criteria :

5.1.15 Techniques

Framework agreement :
No framework agreement
Information about the dynamic purchasing system :
No dynamic purchase system

5.1.16 Further information, mediation and review

Review organisation : Juridictions administratives
Organisation providing additional information about the procurement procedure : Fonds de compensation commun au régime général de pension
Organisation providing offline access to the procurement documents : Fonds de compensation commun au régime général de pension
Organisation signing the contract : Fonds de compensation commun au régime général de pension

6. Results

Value of all contracts awarded in this notice : 1 250 000 Euro

6.1 Result lot ldentifier : LOT-0001

At least one winner was chosen.

6.1.2 Information about winners

Winner :
Name of the tendering party : Ardian France
Official name : Ardian France
Tender :
Tender identifier : EL10
Identifier of lot or group of lots : LOT-0001
Subcontracting value is known : no
Subcontracting percentage is known : no
Contract information :
Identifier of the contract : 2023/S 235-738534
Date of the conclusion of the contract : 02/05/2024
The contract is awarded within a framework agreement : no
Organisation signing the contract : Fonds de compensation commun au régime général de pension

6.1.3 Non-winning tenderers :

Tenderer :
Leader of tendering party : Allianz Global Investors GmbH
Official name :
Tenderer :
Leader of tendering party : AXA IM Prime
Official name :
Tenderer :
Leader of tendering party : BlackRock Investment Management (UK) Limited
Official name :
Tenderer :
Leader of tendering party : GCM Investments UK
Official name :
Tenderer :
Leader of tendering party : Mercer Alternatives AG
Official name :
Tenderer :
Leader of tendering party : Neuberger Berman AIFM S.à r.l.
Official name :
Tenderer :
Leader of tendering party : Schroder Investment Management Europe S.A.
Official name :
Tenderer :
Leader of tendering party : Hamilton Lane (UK) Limited
Official name :
Tenderer :
Leader of tendering party : SWEN Capital Partners
Official name :

8. Organisations

8.1 ORG-0001

Official name : Fonds de compensation commun au régime général de pension
Registration number : J31
Postal address : 34-40, avenue de la Porte-Neuve
Town : Luxembourg
Postcode : 2227
Country : Luxembourg
Contact point : Fonds de compensation
Telephone : +352 26 20 34 83
Fax : +352 46 25 66
Roles of this organisation :
Buyer
Organisation providing additional information about the procurement procedure
Organisation providing offline access to the procurement documents
Organisation signing the contract

8.1 ORG-0002

Official name : Juridictions administratives
Registration number : JURAD
Postal address : 1, rue du Fort Thüngen
Town : Luxembourg
Postcode : 1499
Country : Luxembourg
Telephone : 42105-1
Roles of this organisation :
Review organisation

8.1 ORG-0003

Official name : Allianz Global Investors GmbH
Registration number : HRB 9340
Town : Frankfurt am Main
Country : Germany
Telephone : +33 1 7305 7507
Roles of this organisation :
Tenderer
Group leader

8.1 ORG-0004

Official name : Ardian France
Registration number : 403 201 882
Town : Paris
Country : France
Telephone : +33141719430
Roles of this organisation :
Tenderer
Group leader
Winner of these lots : LOT-0001

8.1 ORG-0005

Official name : AXA IM Prime
Registration number : 892 498 817
Town : Paris
Country : France
Telephone : +33670300893
Roles of this organisation :
Tenderer
Group leader

8.1 ORG-0006

Official name : BlackRock Investment Management (UK) Limited
Registration number : 2020394
Town : London
Country : United Kingdom
Telephone : +44 (207) 743 1000
Roles of this organisation :
Tenderer
Group leader

8.1 ORG-0007

Official name : GCM Investments UK
Registration number : OC325803
Town : London
Country : United Kingdom
Telephone : +49 69 58996837
Roles of this organisation :
Tenderer
Group leader

8.1 ORG-0008

Official name : Mercer Alternatives AG
Registration number : CHE-108.410.135
Town : Zurich
Country : Switzerland
Telephone : +41 43 499 49 68
Roles of this organisation :
Tenderer
Group leader

8.1 ORG-0009

Official name : Neuberger Berman AIFM S.à r.l.
Registration number : B222747
Town : Luxembourg
Country : Luxembourg
Telephone : +35227866442
Roles of this organisation :
Tenderer
Group leader

8.1 ORG-0010

Official name : Schroder Investment Management Europe S.A.
Registration number : B37799
Town : Senningerberg
Country : Luxembourg
Telephone : +352341342850
Roles of this organisation :
Tenderer
Group leader

8.1 ORG-0011

Official name : Hamilton Lane (UK) Limited
Registration number : 04507221
Town : London
Country : United Kingdom
Telephone : +44 797 9673578
Roles of this organisation :
Tenderer
Group leader

8.1 ORG-0012

Official name : SWEN Capital Partners
Registration number : GP-14000047
Town : Paris
Country : France
Telephone : +33 (0)1 40 68 17 1
Roles of this organisation :
Tenderer
Group leader

11. Notice information

11.1 Notice information

Notice identifier/version : 4d4be328-18a7-4d71-956f-50cc21487cfa - 03
Form type : Result
Notice type : Contract or concession award notice – standard regime
Notice dispatch date : 24/05/2024 15:51 +02:00
Languages in which this notice is officially available : English

11.2 Publication information

Notice publication number : 00314576-2024
OJ S issue number : 102/2024
Publication date : 28/05/2024