Tender for Group Legal Services 2024

Award outcome

Description

We are inviting law firms to tender to provide legal services to NEA2F and its group companies including North East Finance Holdco Limited. We will need a mixture of general commercial advice and more specialised advice relating to public sector investment funds. Details of the application process and the full specification of requirements are set out in the Invitation to Tender document. This is a sub-threshold procurement for a three year contract, commencing November 2024. The contract term could be extended, but we will have the right to terminate on three months' notice. We reserve the right to procure other legal support if necessary. NEA2F's remit includes: • Stewardship of returns from publicly backed investment funds in North East England, including overseeing fund realisations. • Working with stakeholders and policy makers to provide a co-ordinated strategy on Access to Finance in North East England. • Planning and supporting the implementation of new funds to ensure continuity of provision in the region. • Overseeing the re-deployment of legacy returns from investment funds in the region into new funds and initiatives to support SMEs. The group includes North East Finance Holdco Limited, the holding fund manager for the Finance for Business North East Fund. This fund invested £160m in SMEs across North East England and our focus is now on realising these investments and generating a cash legacy to fund future investment programmes.

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