Investment Portfolio Records

Pursuant to the Freedom of Information Act 2000 (“FOIA”), I request [access to and copies of alternative investment portfolio records specifically for close-ended private equity, real estate funds and hedge funds (“the Records”) / details on a fund by fund basis with the relevant dates of committed capital, invested capital, distribution, market value, net IRR, and MOIC (“the Information”)]. I request quarterly data from 31/12/2016 until the latest record available.
This request is ongoing, seeking [copies of (or access to) all Records as they are filed with the Devon County Council Pension Fund / updates to the Information as they are filed with the Devon County Council Pension Fund]. I am further requesting that the [Records / Information] be provided to me on computer files or, if not maintained on computer files, in the same format as [they are / it is] currently maintained at the Devon County Council Pension Fund.
Please find Devon County Council’s response to your questions on the attached spreadsheet.
Please note that Devon County Council can confirm that it holds the information you have requested regarding net IRR and MOIC. However on reflection we feel that we are unable to supply this information to you as it is exempt from disclosure under Section 43(2) of the Freedom of Information Act 2000 (Commercial Interests). We believe that disclosure of this information would be likely to cause a negative impact on Devon County Council’s ability to negotiate fee rates. Disclosure of this information may also cause prejudice to our investment managers, as this would reveal to their other customers the rates paid by DCC. There is potential that the availability of this information could allow their competitors to undercut them in a competitive marketplace.
Devon County Council recognises that there is a public interest in disclosure of this information; however we are also confident that withholding this information will allow us to maintain the ability to effectively negotiate discounts, reduce our costs and therefore provide value for money to pension fund members and, by implication, local taxpayers. It is for this reason that we feel that the public interest is best served by withholding this information from disclosure.
We are unable to respond to on-going requests for information. We will respond to each request with the most up to date information.