Purpose

The Panel has allocated 5% of total
assets to Infrastructure Fund investments.  An
annual strategy report on this activity is approved by the
Fund’s Management Panel.  The report
includes an analysis of the required pacing of commitments
necessary to meet the target allocation within a reasonable and
sensible timeframe, whilst also prescribing appropriate
diversification targets on the portfolio.  The
Private Markets team are responsible for selecting managers and
funds consistent with the approved strategy.
 
The Chief Executive has delegated
authority to sign off investments of this nature.

Content

To APPROVE an
investment of €100 million (approximately £87 million)
in an Investment Fund focussed on infrastructure assets, consistent
with the Panel-approved allocation to Infrastructure and subject to
satisfactory completion of outstanding legals.