Free private markets document template
Investment Governance Policy Template
Draft a private markets governance policy defining board, investment committee, staff, consultant, delegation, conflicts and reporting responsibilities.
01
Purpose & scope
This policy establishes governance for State Treasury Investment Office's Private Markets Investment Program. It defines decision rights, fiduciary responsibilities, delegated authority and oversight.
02
Governance structure
Board of Trustees retains ultimate policy authority. The Investment Committee provides program oversight within approved policy.
03
Board responsibilities
Approve policy, strategic allocation, risk limits and committee appointments
04
Investment Committee
Approve commitments, monitor program performance and oversee exceptions
05
Investment staff
Source, diligence, recommend, execute, monitor and report investments
06
Consultants & advisors
Independent advice, benchmark analysis, diligence support and annual program review
07
Delegated authority
CIO may approve re-ups up to $25m within the annual plan and policy limits
08
Investment approval
Written recommendation, legal review, conflicts disclosure, committee vote and documented closing conditions
09
Conflicts of interest
Annual disclosure, transaction-specific recusal and independent review of related-party matters
10
Records
Retain diligence, minutes, approvals, legal documents, notices and monitoring records
11
Reporting & oversight
Quarterly committee dashboard and annual board program review
12
Exceptions
Document rationale, duration, risk, mitigation and approving authority