URL: https://tameside.moderngov.co.uk/ieDecisionDetails.aspx?ID=2516

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 the concept of a £100m capital commitment into a real estate co-investment opportunity and abortive due diligence costs up to £300k. An allocation of 8% of Fund assets to be invested in UK Property was ratified by Policy and Development in June 2024. An opportunity has arisen for a co-investment into a diversified portfolio with a credible and known partner. Capital commitment will be c. £100m. Extensive due diligence is required to further assess the opportunity, structure the deal and agree terms with the partner, hence approval of abortive due diligence budget of up to £300,000 is sought.

Date of Decision: December 16, 2024