Content

That
approval be given for a commitment of
£10m to a social impact fund, subject to satisfactory
completion of outstanding legal documentation.

 

Reasons for the decision

The Panel approved an allocation of
1-2% of total assets to the Impact Investment portfolio on 11 July
2025. 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. 

Alternative options considered

The Local Investments team
regularly review social impact funds and Managers on an on-going
basis. Recent competitor funds have been assessed but not
progressed at this stage.