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Toronto Investment Board · 2025-12-12 · 2025.IB14.6

The filed record

Investing in Infrastructure

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The decision

2025-12-12 · Toronto Investment Board · amended

As filed

The Toronto Investment Board: 1. Received the report (November 28, 2025) from the Director, Capital Markets for information. 2. Requested the investment consultant (Aon), in consultation with the Director, Capital Markets, to proceed with a manager search and evaluation for the infrastructure asset class, within the guidelines of the Council-approved Investment Policy, and to report back with recommendations at the March 23, 2026 meeting of the Toronto Investment Board.

On the agenda

As the city filed it

The purpose of this report is to further the discussion of the Toronto Investment Board's ("Board") potential investment in the infrastructure asset class as part of the Real Assets category of the asset mix established in the Council adopted Investment Policy (Attachment 1). The investment consultant (Aon) will provide a presentation (Attachment 2) that provides further information in relation to investing in Infrastructure.

Staff recommended

The Director, Capital Markets recommends that: 1. The Toronto Investment Board receive this report for information.

    On the record

    The item as the City filed it

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