On behalf of PEI Media and under the Freedom of Information Act, I request a copy of the pension’s most recently available public records that detail the following investment information at the partnership level. Please send the data in excel format, if possible.
Names and vintage years of all closed‐ended alternative funds (private equity, venture capital, mezzanine, distressed, real estate, real assets, natural resources, debt and infrastructure) in your institution’s portfolio
Date when each commitment was made
View: Pension Investment data
Commitment amount made to each partnership
View: Pension Investment data
Contributions drawn down since inception and date the calculation was made
View: Pension Investment data
Distributions made to your institution to date by each individual partnership and date the calculation was made
View: Pension Investment data
Net Asset Value of each partnership and date the calculation was made
View: Pension Investment data
Internal rates of return since inception for each individual partnership and date the calculation was made
Devon Council can confirm that it holds the information you have requested. 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).
Devon County Council recognises that there is a public interest in disclosure of this information; however, disclosure of the data could impact on their ability to achieve a competitive advantage in the market place. It is for this reason that we feel that the public interest is best served by withholding this information from disclosure.
Investment multiple for each individual partnership and date the calculation was made
Devon Council can confirm that it holds the information you have requested. 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.
Total management fees and costs paid for each individual partnership as percentage of committed capital
Refer to Pension Investment data
Hurdle rate set by each fund’s general partner
Refer to Pension Investment data
Proportion of carried interest which will be charged at the end of the fund life
Refer to Pension Investment data
Key investment professionals listed for each partnership
Aviva manage our property portfolio. Alistair Dryer is the portfolio manager.
Infrastructure current key professionals:
UBS/Archmore – Tommaso Albanese
First State EDIF – Marcus Ayre and Niall Mills
Hermes – Peter Hofbauer
Aviva Infrastructure Income – Ian Berry
Aviva Ground Rents – Neil Gardiner
Private Debt Current Key Professionals:
Bluebay – Anthony Fobel
Golub – Lawrence E. Golub (CEO)
Names of all partnerships partially and fully sold by you including date of sale
No