Content

To APPROVE, a commitment of
£40m to a regional private equity fund, subject to
satisfactory completion of outstanding legal
documentation.

Reasons for the decision

The Panel approved an allocation of up to 1-2% of
total assets to the Impact Investment portfolio on 19 July 2024.
The report included an analysis of the required pacing of
commitments necessary to meet the target allocation within a
reasonable timeframe, whilst also prescribing appropriate
diversification targets on the portfolio. The Local Investments
team is responsible for selecting managers and funds consistent
with the approved strategy.
The Director has delegated authority to sign
off investments of this nature.