merrion street

The National Treasury Management Agency (NTMA) has today (06/09/2017) published a Call for Expressions of Interest for potential Investment Manager(s) to manage the escrow fund as part of the Apple state aid recovery process.
The launching of this Call for Expressions of Interest follows on from the Minister for Finance’s statement of 22 July 2017.


Queries
As the NTMA are running the procurement processes on the Minister’s behalf the following should be used for queries on this matter:
for press queries on the procurement contact Martin Whelan: Martin.W.Whelan@ntma.ie
for general queries in relation to the procurement contact: Procurement@ntma.ie

Notes for Editors
Procurement of third party service providers
As part of the establishment of the escrow fund, an escrow agent and custodian will be appointed by Apple and the Minister for Finance to hold the assets and administer the escrow fund. This procurement process is currently underway.
Additionally, setting up of the escrow fund will also involve the appointment of one or more investment manager(s) to manage the escrow fund. The NTMA has today launched a Call for Expressions of Interest for Investment Manager(s) on the eTenders website (www.etenders.gov.ie).
The Minister appointed the NTMA as his agent under section 28 of the National Treasury Management Agency (Amendment) Act 2000 to run the procurement processes on his behalf.
The third party service providers will be jointly appointed by Apple and the NTMA on behalf of the Minister to service and manage the escrow fund.
Investment Managers
The role of the investment manager(s) will be to manage the escrow fund.
An EU public procurement process is not being run for the appointment of one or more investment manager(s) as the investment management services arising fall within the scope of the exclusion in Article 10(e) of Directive 2014/24/EU (as implemented in Irish law by Regulation 10(1)(e)(i) of the European Union (Award of Public Authority Contracts) Regulations 2016).
However in order to secure value for money a competitive tender process is being undertaken, commencing with the Call for Expressions of Interest that has been published on the eTenders website (www.etenders.gov.ie).
All queries on the procurement process should be submitted in line with the communications process set out in the Call for Expressions of Interest document.
Timeline
It is estimated that the procurement process for the appointment of one or more investment manager(s) will take approximately 3 months.