Item - 2022.TA15.7

Tracking Status

This item was considered by Board of Directors of the Toronto Atmospheric Fund on February 14, 2022 and was adopted with amendments.

TA15.7 - Investment and Direct Investment Committee Terms of Reference and Membership

Decision Type:: ACTION

Status:: Amended

Confidential Attachment - Personal matters about an identifiable person.

Board Decision

The Board of Directors of the Toronto Atmospheric Fund:

1. Approved the updated Investment Committee Terms of Reference as presented in Attachment A to the report (January 31, 2022) from the Chief Executive Officer, Toronto Atmospheric Fund.

2. Approved Direct Investment Committee Terms of Reference as presented in Attachment B to the report (January 31, 2022) from the Chief Executive Officer, Toronto Atmospheric Fund, subject to the clarification of Part 3d and Schedule A, in Attachment B, to the satisfaction of the Chair and the Chair of the Direct Investment Committee.

3. Established the composition of the Investment Committee as 5 members and appointed the following members:

a. Jean Olemou, as Chair

b. Councillor Shelley Carroll

c. 3 individuals named in Confidential Attachment 1 to the report (January 31, 2022) from the Chief Executive Officer, Toronto Atmospheric Fund.

4. Established the composition of the Direct Investment Committee as 7 members and appointed the following members:

a. Kimberly Marshall, as Chair

b. Graysanne Bedell

c. 5 individuals named in Confidential Attachment 1 to the report (January 31, 2022) from the Chief Executive Officer, Toronto Atmospheric Fund.

5. Directed that Confidential Attachment 1 to the report (January 31, 2022) from the Chief Executive Officer, Toronto Atmospheric Fund containing the names of the appointees be made public once appointed by the Board.

The individuals listed in Confidential Attachment 1 to the report (January 31, 2022) from the Chief Executive Officer, Toronto Atmospheric Fund, appointed to the Investment Committee in Part 3c above are:

Bill Crossland
Jacoline Loewen
Terry Vaughan.

The individuals listed in Confidential Attachment 1 to the report (January 31, 2022) from the Chief Executive Officer, Toronto Atmospheric Fund, appointed to the Direct Investment Committee in Part 4c above are:

Kiki Anadu
Mike LeClair
Bernie Li
Graham McBride
Stephen Simpson.

Origin

(January 31, 2022) Report from the Chief Executive Officer, Toronto Atmospheric Fund

Summary

This report recommends new Terms of Reference for Toronto Atmospheric Fund’s Investment and Direct Investment Committees, and appointments of members to both.

Background Information

(January 31, 2022) Report from the Chief Executive Officer, Toronto Atmospheric Fund on Investment and Direct Investment Committee Terms of Reference and Membership
https://www.toronto.ca/legdocs/mmis/2022/ta/bgrd/backgroundfile-198932.pdf
Attachment A - Terms of Reference: Investment Committee
https://www.toronto.ca/legdocs/mmis/2022/ta/bgrd/backgroundfile-198933.pdf
Attachment B - Terms of Reference: Direct Investment Committee
https://www.toronto.ca/legdocs/mmis/2022/ta/bgrd/backgroundfile-198934.pdf
Confidential Attachment 1 - Investment and Direct Investment Committee Membership

Motions

Motion to Adopt Item as Amended moved by Graysanne Bedell (Carried)

That the Board adopt the recommendations in the report, after amending Recommendation 2 to read as follows:

2. Approve Direct Investment Committee Terms of Reference as presented in Attachment B to the report (January 31, 2022) from the Chief Executive Officer, Toronto Atmospheric Fund, subject to the clarification of Part 3d and Schedule A, in Attachment B, to the satisfaction of the Chair and the Chair of the Direct Investment Committee.