Item - 2025.IB13.1

The Toronto Investment Board:

1. Directed that the confidential information contained in Confidential Attachment 1 to this report (September 7, 2025) from the Director, Capital Markets remain confidential in its entirety, as it contains information that involves the security of property belonging to the City or one of its agencies or corporations.

2. Extended the contract for the investment consultant (Aon) for an additional two years and authorized the Chair or Vice-Chair of the Investment Board to execute such agreements on behalf of the Investment Board.

Randy LeClair, Director, Capital Markets gave a verbal update on Investment Consultant Contract - Option to Extend.

This report provides a review and recommendation regarding the investment consultant (Aon) for the Toronto Investment Board. The current contract with Aon is for three years with an option to extend for another two years. The current contract was awarded by the Board at its meeting on December 16, 2022 with Aon to provide services from 2023 to 2026, with the option to extend the contract for another two years.

City staff recommend to extend this contract for another two years based on the Evaluation Scorecard found in Confidential Attachment 1 of this report.