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DETERMINED that as part of the 5% allocation of
Greater Manchester Pension Fund to GLIL an additional £100m
be committed, increasing commitments from £1,300m to
£1,400m.

Reasons for the decision

An allocation of 5% to GLIL, was re-confirmed by
GMPF Management Panel on 14 July 2023 as part of the Investment
Strategy Setting.

A series of subscriptions has .taken the GMPF
commitment to GLIL to £1,300m out of a total of
£3,625m.

The time is apposite for a further increase in the
GMPF commitment to GLIL as a consequence of deployment of capital
to date, the proposed concurrent increase in commitments of
partners and the proven ability of GLIL to deploy capital in
attractive opportunities.
This
new commitment would take GMPF commitment to £1,400m out of a
total GLIL size of £4,100m. GMPF’s total exposure to
GLIL representing 4.6% of GMPF Total Assets and 34% of GLIL
total.