Item - 2019.TA2.10

The Board of Directors of the Toronto Atmospheric Fund:

1.  Approved a private equity investment of $150,000 as set out in Confidential Attachment 1 to the report (April 12, 2019) from the Vice President, Impact Investing.

2.  Directed that the confidential information contained in Confidential Attachment 1 to the report (April 12, 2019) from the Vice President, Impact Investing remain confidential in its entirety, as it involves the security of property belonging to the Toronto Atmospheric Fund (TAF) and contains commercial and financial information, supplied in confidence to TAF, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons or organizations.

The Board of Directors of the Toronto Atmospheric Fund (TAF) recessed its public meeting to meet in closed session to consider the item as it pertains to the security of the property belonging to the Toronto Atmospheric Fund and contains commercial and financial information, supplied in confidence to the Toronto Atmospheric Fund, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

The Investment Committee is recommending a private equity investment of $150,000. This is compliant with Toronto Atmospheric Fund (TAF)’s Statement of Investment Objectives and Principles (SIOP) which allows TAF to invest up 5 percent of the Net Asset Value in pooled or third party portfolios of private equities which are comprised of companies that help address climate change and air quality issues and avoid exposure to companies whose share value may be at risk from climate change.