Decision details

GMPF COMMITMENT TO GLIL

Decision Maker: Sandra Stewart - Director of Governance & Pensions

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Decision:

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.

Publication date: 25/03/2024

Date of decision: 25/03/2024

Accompanying Documents: