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