Agenda and minutes
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Contact: Victoria Freeman 01708 433862 Email: victoria.freeman@onesource.co.uk
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APOLOGIES FOR ABSENCE AND ANNOUNCEMENT OF SUBSTITUTE MEMBERS (if any) - receive Minutes: An apology for absence was received from Councillor Martin Goode. |
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DISCLOSURE OF INTERESTS Members are invited to disclose any interest in any of the items on the agenda at this point of the meeting.
Members may still disclose any interest in any item at any time prior to the consideration of the matter.
Minutes: There were no declarations of interest. |
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EXCLUSION OF THE PUBLIC To consider whether the public should now be excluded from the remainder of the meeting on the grounds that it is likely that, in view of the nature of the business to be transacted or the nature of the proceedings, if members of the public were present during those items there would be disclosure to them of exempt information within the meaning of paragraph 1 of Schedule 12A to the Local Government Act 1972; and, if it is decided to exclude the public on those grounds, the Committee to resolve accordingly on the motion of the Chairman.
Minutes: The Committee resolved to exclude the public from the meeting during discussion of the following item on the grounds that if members of the public were present it was likely that, given the nature of the business to be transacted, that there would be disclosure to them of exempt information within the meaning of paragraph 3 of Schedule 12A to the Local Government Act 1972 which could reveal information relating to the financial or business affairs of any particular person (including the authority holding that information) and it was not in the public interest to publish this information.
There were no members of the public or press present for the duration of the meeting. |
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APPOINTMENT OF INVESTMENT MANAGER - PRIVATE DEBT MANDATES Additional documents:
Minutes: At its meeting on the 19 September 2017, members agreed to undertake the search for a Private Debt Manager in collaboration with other London boroughs.
Members received a paper produced by bFinance, the Fund’s Investment advisor, which outlined the offers made by the shortlisted managers.
The Committee received presentations from two shortlisted Private Debt Managers as recommended by bFinance and officers as part of the Private Debt Manager search.
RESOLVED: That
i) The Committee received presentations from the managers as recommended by bFinance and officers as part of the Private Debt Manager search. ii) The Committee considered and agreed to appoint a manager/s to implement the Private Debt mandate. iii) The Committee noted the London Collective Investment Vehicle (LCIV) offering from Ares Global (Appendix B – exempt). iv) The Committee agreed the next steps as set out in Hymans report (Appendix A – exempt).
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