URL: https://tameside.moderngov.co.uk/ieDecisionDetails.aspx?ID=2515

Decision Maker: Chief Executive of the Greater Manchester Pension Fund (Sandra Stewart)

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Purpose:

Content: To APPROVE a commitment of up to £100 million to the Northern Private Equity Pool LP to fund GMPF’s share of expected private equity investments for 2025. The Panel has allocated 5% of total assets to private equity investments.  An annual strategy report on this activity is approved by the Fund’s Management Panel. The report includes an analysis of the required pacing of commitments necessary to maintain the target allocation, whilst also prescribing appropriate diversification targets for the portfolio.  As part of LGPS pooling, GMPF joined with Merseyside and West Yorkshire pension funds to form the Northern LGPS and, as part of this pooling arrangement and under the guidance of the Northern LGPS Joint Committee, the Northern Private Equity Pool LP (NPEP) was created to bring together the private equity investing programmes of the three Northern LGPS funds.  GMPF uses NPEP as the vehicle through which it implements its private equity investment programme. The Chief Executive has delegated authority to approve private equity investments, including commitments to NPEP.

Date of Decision: December 16, 2024