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Provision of Fund Administration, Custody and Related Services | UKGovscan

AWARDEDProcurement notice · National Employment Savings Trust (NEST) Ref ocds-h6vhtk-03ea34

Provision of Fund Administration, Custody and Related Services

Save Track Track buyer

Contract Value

£79,000,000

Suppliers

Northern Trust Global Investments Limited · The Northern Trust Company (London Branch)

Procurement

Competitive procedure with negotiation

Selective — suppliers are shortlisted first

Source

Find a Tender

Search for the notice (via Google)

The notice does not give contract dates.

Description

This is a contract for the provision of fund administration, custody and related services.

Core Services included within the scope of the contract:

Custodian services
Asset allocation and rebalancing services
Investment Performance measurement
Investment Compliance monitoring
Investment Tax services

Additional services that may be included throughout the term of the contract include:

FX Overlay
Public and private market investments
Data management

The contract is for an initial 10-year period with the option to extend up to an additional 5 years (15 years in total).

Buyer

Organisation: National Employment Savings Trust (NEST)
Buyer ID: GB-FTS-163396
Local Authority Code: –
Address: 10 South Colonnade 1st floor, London, E14 4PU, United Kingdom
Website: http://www.nestpensions.org.uk

Suppliers

Supplier	Identifier	Award Value	Lots Won	Cross-References
Northern Trust Global Investments Limited	03929218	~£237,000,000 estimated from lot values	1 lot Lot 1	-
The Northern Trust Company (London Branch)	-	~£79,000,000 estimated from lot values	1 lot Lot 1	-

Lots

This procurement was divided into 1 lots, each awarded separately. 6 bids were received in total.

Lots

Initial Term Value

£100,000,000

Value with Extensions

£79,000,000

Bids Received

Bids per Lot

Lot	Value	Bids Received	Awarded To	Status
Lot 1 3,600 days (≈9.9 yrs)	£79,000,000 £100,000,000 initial term	6	The Northern Trust Company (London Branch) Northern Trust Global Investments Limited	active

Data note: the source feed marks these lots as cancelled even though their awards are active — an inconsistency in the published notice. The award status is shown above.

Award criteria

Weightings from the notice.

Price

Key Dates

Published: 13 November 2025
Tender Open: -
Tender Deadline: 24 August 2023
Award Date: -
Contract Signed: 25 April 2024
Contract Start: -
Contract End: -
Extension option: This is an ongoing requirement for Nest and, as of date of publication of this notice, it is anticipated that Nest will re-tender this opportunity upon contract expiry (and any contract extension(s) Nest chooses to enter into - see options section).

Procurement Details

Method: Selective — suppliers are shortlisted first
Method Details: Competitive procedure with negotiation
Route to market: Restricted or negotiated
Main category: Services
Category: Custody services
Delivery location: UKI
Open under: WTO Government Procurement Agreement
Contract Term: 10 - 15 years
Buyer Reference: ocds-h6vhtk-03ea34
Legal Basis: Public Contracts Regulations 2015 (EU Directive 2014/24)
CPV Codes: 66523100 – Pension fund administration services; 66162000 – Custody services

Buyer contact

Buyer website: https://nesttenders.bravosolution.co.uk/

Published by the buyer on this notice. Details change and are not updated here.

Loading contract…

AWARDEDProcurement notice · National Employment Savings Trust (NEST) Ref ocds-h6vhtk-03ea34

Provision of Fund Administration, Custody and Related Services

Save Track Track buyer

Contract Value

£79,000,000

Suppliers

Northern Trust Global Investments Limited · The Northern Trust Company (London Branch)

Procurement

Competitive procedure with negotiation

Selective — suppliers are shortlisted first

Source

Find a Tender

Search for the notice (via Google)

The notice does not give contract dates.

Description

This is a contract for the provision of fund administration, custody and related services.

Core Services included within the scope of the contract:

Custodian services
Asset allocation and rebalancing services
Investment Performance measurement
Investment Compliance monitoring
Investment Tax services

Additional services that may be included throughout the term of the contract include:

FX Overlay
Public and private market investments
Data management

The contract is for an initial 10-year period with the option to extend up to an additional 5 years (15 years in total).

Buyer

Organisation: National Employment Savings Trust (NEST)
Buyer ID: GB-FTS-163396
Local Authority Code: –
Address: 10 South Colonnade 1st floor, London, E14 4PU, United Kingdom
Website: http://www.nestpensions.org.uk

Suppliers

Supplier	Identifier	Award Value	Lots Won	Cross-References
Northern Trust Global Investments Limited	03929218	~£237,000,000 estimated from lot values	1 lot Lot 1	-
The Northern Trust Company (London Branch)	-	~£79,000,000 estimated from lot values	1 lot Lot 1	-

Lots

This procurement was divided into 1 lots, each awarded separately. 6 bids were received in total.

Lots

Initial Term Value

£100,000,000

Value with Extensions

£79,000,000

Bids Received

Bids per Lot

Lot	Value	Bids Received	Awarded To	Status
Lot 1 3,600 days (≈9.9 yrs)	£79,000,000 £100,000,000 initial term	6	The Northern Trust Company (London Branch) Northern Trust Global Investments Limited	active

Data note: the source feed marks these lots as cancelled even though their awards are active — an inconsistency in the published notice. The award status is shown above.

Award criteria

Weightings from the notice.

Price

Key Dates

Published: 13 November 2025
Tender Open: -
Tender Deadline: 24 August 2023
Award Date: -
Contract Signed: 25 April 2024
Contract Start: -
Contract End: -
Extension option: This is an ongoing requirement for Nest and, as of date of publication of this notice, it is anticipated that Nest will re-tender this opportunity upon contract expiry (and any contract extension(s) Nest chooses to enter into - see options section).

Procurement Details

Method: Selective — suppliers are shortlisted first
Method Details: Competitive procedure with negotiation
Route to market: Restricted or negotiated
Main category: Services
Category: Custody services
Delivery location: UKI
Open under: WTO Government Procurement Agreement
Contract Term: 10 - 15 years
Buyer Reference: ocds-h6vhtk-03ea34
Legal Basis: Public Contracts Regulations 2015 (EU Directive 2014/24)
CPV Codes: 66523100 – Pension fund administration services; 66162000 – Custody services

Buyer contact

Buyer website: https://nesttenders.bravosolution.co.uk/

Published by the buyer on this notice. Details change and are not updated here.