This meeting of the Pension Fund Investment & Administration Panel will include reports on the recent audit of the fund, and will consider proposals to make new investments worth £160m. The meeting will begin with a discussion of the Royal Borough of Greenwich Pension Fund Audit Completion Report for 2023/24. Following this the panel will consider two proposals for new investments.

Audit Completion Report 2023/24

This item notes the publication of the Royal Borough of Greenwich Pension Fund Audit Completion Report 2023/24. The report itself is available in the report pack as Appendix A - Royal Borough of Greenwich Pension Fund Audit Completion Report 2023-24. The report was prepared by the Council's auditors, Forvis Mazars. The report will also be presented to the Council's Audit & Risk Management panel on 25 February 2025 and to a future meeting of the full council on 26 February 2025.

Natural Capital Allocation

The meeting report pack includes a proposal for the panel to approve an investment of £45m in the London CIV Natural Capital Fund. ¹ The report pack recommends that the panel delegate the decision about when to make the investment to Damon Cook, the Director of Resources.

Private Debt Allocation

The meeting report pack includes a proposal to invest £115m in the London CIV Private Debt II Fund. As with the Natural Capital allocation, the report pack recommends that the panel delegate the decision about when to make the investment to the Director of Resources.