Item - 2024.IB7.5
Tracking Status
- This item was considered by Toronto Investment Board on June 20, 2024 and was adopted without amendment.
IB7.5 - Real Assets Update
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Board Decision
The Toronto Investment Board received the report (June 6, 2024) from the Director, Capital Markets for information.
Decision Advice and Other Information
The Director, Capital Markets gave a verbal update on Real Assets Update.
Origin
Summary
The purpose of this report is to update the Toronto Investment Board ("Board") on the progress to date regarding the hiring of external investment managers in the Real Assets category.
The necessary reviews, negotiations and documentation has been completed with one investment manager in this category. At this stage we can publicly disclose the name of the new Global Real Estate manager as UBS Asset Management (Canada).
Negotiations and documentation are near completion with a second investment manager which will be publicly identified when finalized.
The updated Investment Plan will be provided to the Board by the investment consultant (Aon) once both investment managers documentation is completed and can be identified.
Background Information
https://www.toronto.ca/legdocs/mmis/2024/ib/bgrd/backgroundfile-246469.pdf