Investment training
How investment committees work and what boroughs need to know
As London boroughs seek private-sector partnerships to deliver major regeneration and housing, understanding how investors assess risk, data and political context is crucial. Our recent webinar offered critical insight into investment-committee decision-making.
As London boroughs increasingly strive to unlock private-sector investment and partnerships to deliver major housing, regeneration and infrastructure projects, knowing how private-sector investors make decisions is more important than ever.
Investment decisions are based on a mix of assessing data, managing risk appetite, understanding the political context and building trust. The more borough teams understand the investment committee mindset, the stronger their business case will be, not just for getting approval, but for building successful long-term partnerships.
Future of London and our partners Opportunity London recently delivered the second in a series of conversation-style training webinars led by expert Bek Seeley, with our CEO Nicola Mathers, focused on helping local authority officers build more effective business cases for private-sector investment. This session – “Inside the Investment Committee” – offered a behind-the-scenes look at who sits on an investment committee, what they care about and how they make decisions.
For boroughs preparing to seek funding, this insight could be the difference between approval and rejection, even if they never deal with the committee directly.
Watch the webinars
Who’s on the committee?
Investment committees decide whether private capital is allocated to a project. Their priorities reach far beyond just numbers on spreadsheets: they look for political stability, community value and alignment on environmental goals, as well as a compelling financial case. To succeed, boroughs need to understand what happens inside that room – and who’s sitting at the table.
Bek walked participants through fictional – but realistic – “portraits” of six types of key committee member, each representing a distinct lens through which proposals are assessed. Bek explained the part that each person plays in decision-making, with Nicola putting forward key questions along the way to help unpack this complex topic further. Understanding these committee roles will help boroughs to tailor business cases and anticipate the kinds of questions their proposals will face.
The investment director
What’s their role? The internal champion. This is often a borough’s main point of contact – someone who’s spent months working with their public sector partner, knows the project deeply and advocates for it internally. This is the person who usually presents the case to the committee. Their credibility is on the line, so they need the right information – including robust data and clear risk mitigation strategies – to make the case convincingly.
The chief investment officer (CIO)
What’s their role? The strategic leader. Focused on long-term, stable returns, the CIO evaluates whether a project fits with the fund’s strategic priorities and financial thresholds. They will scrutinise political context, delivery resilience and futureproofing. They will also take into consideration how projects align with national strategies on areas such as net zero and housing renewal.
The head of real assets
What’s their role? The technical expert. This committee member focuses on whether a project is deliverable and how it will be delivered, as well as the level of risk in the supply chain. They’ll want to see phasing plans, construction risk mitigation and stress-tested models of financial return.
The ESG director
What’s their role? The guardian of values. ESG (environmental, social and governance) is no longer a side note – it’s central to investment decisions. This person will evaluate whether a project genuinely aligns with sustainability and social impact goals, inclusive procurement, transparent governance and whether those outcomes are measurable.
The risk officer
What’s their role? The gatekeeper. Tasked with stress testing, scenario planning and red flag detection, this person can effectively veto projects that don’t meet governance thresholds. If a borough can’t answer their questions clearly, the proposal may be delayed – or even rejected.
The impact strategist
What’s their role? The conscience. Often representing younger voices or future-focused thinking, this role examines long-term social value. They may challenge a purely financial view and bring lived experience to the table – especially around affordability, local benefit and inclusive outcomes. Often, their voice ensures social value isn’t lost in financial calculations.
What is the committee looking for?
Every investment committee is different, but common themes emerged across all roles:
Risk management
The committee wants to understand not just how a project will succeed – but also how it might fail. It’s essential to be prepared to explain mitigation strategies for political change, utility delays (such as power supply) or inflation pressures.
Financial clarity
A solid grasp of the numbers, especially around internal rate of return (IRR), equity exposure and delivery phasing are critical to success. Don’t delegate this blindly – own it.
ESG integration
ESG is not just a checkbox. Outcomes must be embedded in the project from day one – not bolted on after the fact. Sustainability, equity and governance must be central to the project delivery plan.
Political and community stability
Investors now routinely evaluate political leadership, community buy-in and stakeholder engagement. Failure to involve elected members, residents and local partners early can raise red flags.
What is the decision-making process?
Following a presentation, the committee deliberates. They will look at areas such as whether the project aligns well with the fund’s long-term goals, whether exit strategies and phasing timelines are robust, if sustainability is embedded throughout, and if there is authentic collaboration with local stakeholders and residents.
Outcomes range from approval and deferral to rejection – but almost always come with follow-up actions. These might include clarifying governance, stress-testing assumptions or adjusting financial terms. A project might be approved “in principle”, but the fine print could be negotiated over several weeks.
Fast response times are critical. Investors expect local authorities to have internal processes ready to react – ideally with in-principle backing from senior officers or cabinet leads already secured.
Final takeaways for boroughs
- Build relationships early
Start working with your investment contact 6–18 months ahead of your proposal going to committee review. Site visits, cabinet engagement and strong communication are key. - Know the whole room
Your proposal must speak to risk managers, strategists and ESG leads – not just the finance lead. Think holistically. - Own the numbers
Understand the investor’s financial model and how your assumptions affect return. Ask smart questions, and don’t shy away from detail. - Embed ESG and community value
Avoid “bolt-ons”. From day one, show how your project aligns with sustainability and serves local people. - Be responsive
Have your internal governance aligned to act quickly when the committee requests changes or conditions.
What’s next?
This online seminar is the second in a three-part series. The third, on Friday 16 January 2026, will explore how investors evaluate opportunities – so share your questions and ideas with Future of London and Opportunity London by emailing Sarah.