The Director of Pensions spoke to his report, which provided Members with an update on the progress of the Catalyst investment activities.  It was stated that The Catalyst Fund aimed to support development and refurbishment projects in the Merseyside area that aided the regeneration of the Liverpool City Region and aligned with the economic plans for the area whilst producing a commercial return for the Fund. It was stated that since inception Catalyst Fund had committed over £170 million in 9 assets across direct real estate and infrastructure debt investments and indirectly via private equity fund exposure, diversified across sectors such as residential real estate, commercial real estate, industrial real estate, utilities and SMEs. It was noted that it was likely to be a growing area of the fund and should bring social and environmental benefits.

Resolved – That the report be noted.