Content

APPROVED:

 

Selling a
partnership interest in a secondary transaction, subject to receipt
of a satisfactory legal report. 

Reasons for the decision

GMPF makes commitments to Private
Funds as part of the implementation of its Private Equity strategy.
From time to time, mature funds are subject to secondary
transactions to enable investors to obtain liquidity for their
remaining partnership interest and for the fund to be liquidated
and terminated in a timely manner.

The CEO has delegated authority to
approve the granting of consents and the making of relevant
elections in relation to processes such as that
described.

Alternative options considered

GMPF could elect against the
secondary transaction. This option has been considered, evaluated
and rejected.