Decision

That approval was given, consenting to the LPA Amendment in respect of a Private Fund, as described in the accompanying exempt report.

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 propose amendments to Partnership Agreements to facilitate changes to strategy or other developments, which require investor consent.

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

Alternative options considered

GMPF could not provide consent to the LPA amendment.  Implications and risks associated with this are as described in the accompanying exempt report.