Agenda and draft minutes

The members had before them:

A.    The Agenda papers (previously circulated); and

B.    The Minutes of the meeting held on 30 November 2023 (previously circulated).

None.

None.

Members of the public wishing to take part should notify the Assistant Director for Legal and Governance in writing or by e-mail indicating both the nature and content of their proposed participation no later than 9.00am on the working day before the meeting (in this case, 4 March 2024).  Enquiries about this can be made through the telephone number/e-mail address listed in this agenda and on the website.

None.

To confirm the Minutes of the meeting held on 30 November 2023 (previously circulated).

RESOLVED that the Minutes of the meeting held on 30 November 2023 be confirmed as correct record and signed by the Chairman.

RESOLVED that pursuant to Section 100A of the Local Government Act 1972, the press and public shall be excluded from the meeting during items 5 - 9 on the grounds that there would be disclosure to them of information relating to the financial or business affairs of any particular person (including the authority holding the information) and the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Summary of the proceedings of the meeting during which the press and publicwere excluded. (This is a fair summary of the proceedings.)

The Sub-Committee considered the Pensions Independent Investment Advisor update together with the associated investment performance information.

The Sub-Committee received a presentation from Philip Hebson, Independent Advisor to the Fund.

RESOLVED that the Pensions Independent Investment Advisor’s update attached to the report as Appendix 1 together with the associated investment performance information attached as Appendices 2 and 3 be noted.

The Sub-Committee considered the Gresham House Private Equity Co-Investment & British Sustainable Infrastructure Fund (BSIF) III Opportunities.

The Sub-Committee received a presentation from Liz Rex, Ruth Murray and Simon Adcock from Gresham House.

RESOLVED that the Gresham House Co-Investment and BSIF III Opportunities presentation be noted.

The Sub-Committee considered the CEM Benchmarking Report 2023.

The Sub-Committee received a presentation from Fleur Dubbelboer from CEM.

RESOLVED that the CEM Benchmarking report for 2023 be noted.

The Sub-Committee considered the Bridgepoint Direct Lending Fund (BDL) IV Opportunity Presentation .

The Sub-Committee received a presentation from Carlotta Sanchez-Marco, Paul Johnson, Andrew Cleland-Bogle and Katie Cotterell from Bridgepoint.

RESOLVEDthat the Bridgepoint BDL Fund IV opportunity presentation be noted.

The Sub-Committee considered the Federated Hermes HIF II Restructure (Project Artemis) Presentation.

RESOLVED that the Federated Hermes HIF II restructure (Project Artemis) presentation be noted.