Content

That Approval be
given in rejecting a liquidity option in respect of a Private Fund,
as described in the accompanying exempt report and withholding
consent for related LPA amendments, subject to satisfactory
review of the
relevant legal
documents. 

 

Reasons for the decision

GMPF makes commitments to Private
Funds as part of the implementation of its strategies in respect of
asset classes such as Private Equity, Infrastructure, Property and
Private Debt.  Such Private Funds are governed by agreements
that lay out the rights and responsibilities of investors and
managers in respect of each fund.

 

From time-to-time managers may
present options for early liquidity requiring investors to elect to
accept or reject such liquidity options.

 

The Chief Executive of GMPF has
delegated authority to approve decisions of this nature.

 

Alternative options considered

GMPF could
accept the liquidity offer. 
Implications
and risks associated with this are as described in the accompanying
exempt report.