The list of bidders seeking to fund the ‘aggregator’ financing model for the government’s privately-financed schools programme has been cut from six to three
The Education Funding Agency has narrowed the shortlist of bidders seeking to fund the ‘aggregator’ financing model for its Pf2 schools programme from six to three.
The aggregator model will use an organisation to provide debt funding for all of the EFA’s privately-financed schools batches, rather than each batch having to secure its own funding.
The EFA adopted the aggregator model after it had struggled to raise long-term debt funding for its Pf2 programme.
In October the EFA said it had invited six bidders to submit outline proposals, with that long-list now cut to just three:
- Allianz and Uberior (Abacus)
- Amber and International Public Partnerships Limited
- Barclays Infrastructure Fund, 3i and Blackrock
The EFA said the three bidders have been been invited to submit detailed proposals with the aim of concluding the procurement in mid-2014.
Three bidders - InfraRed and RBC; NIBC; and Rock Infrastructure and RBS (Lyceum) - failed to make the cut.
The EFA is procuring five batches of Pf2 schools covering the North-east; North-west; Yorkshire; Midlands; and Hertfordshire, Luton and Reading.