Direct Investment Update and Request - 2020 - Number 4

The Public Gallery wrote no story on this item. What follows is the city’s own record of what happened to it, as filed: nothing on this page is summarised or scored by us.

The decision

2020-11-06 · Board of Directors of the Toronto Atmospheric Fund · amended

As filed

The Board of Directors of the Toronto Atmospheric Fund: 1. Approved an additional investment of up to $350,000 in subordinated debt or limited partnership equity units, subject to the terms and conditions, inclusive of the stated Conditions Precedent, outlined by the Investment Committee at its meeting of October 15, 2020 and as set out in Confidential Attachment 1 to the report (October 23, 2020) from the Chair, Investment Committee.

Show the rest of As filed, 661 more characters as filed

2. Directed the Vice President, Impact Investing to implement the investment to the satisfaction of Toronto Atmospheric Fund's Solicitor. 3. Directed that the confidential information contained in Confidential Attachments 1 and 2 to the report (October 23, 2020) from the Chair, Investment Committee remain confidential in their entirety, as they contains commercial and financial information, supplied in confidence to The Atmospheric Fund, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

On the agenda

As the city filed it

Approval of a direct investment of up to $600,0000 in subordinated debt is recommended. This investment demonstrates the potential for appropriate risk-adjusted return and strong alignment with TAF's mandate.

Staff recommended

The Chair, Investment Committee recommends that the Board of Directors of the Toronto Atmospheric Fund: 1. Approve an investment of up to $600,000 subject to the terms and conditions, inclusive of the stated Conditions Precedent, outlined by the Investment Committee at its meeting of 15 October 2020 and as set out in Confidential Attachment 1. 2. Direct the Vice President, Impact Investing to implement the investment to the satisfaction of the Toronto Atmospheric Fund's Solicitor.

Show the rest of Staff recommended, 441 more characters as filed

3. Direct that the confidential information contained in Confidential Attachments 1 remain confidential in its entirety, as it contains commercial and financial information, supplied in confidence to The Atmospheric Fund, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

On the record

The item as the City filed it

More from this meeting

The whole meeting