The Rutherford Cancer Centre

Part of 4. Topical Questions – in the Senedd at 3:57 pm on 8 June 2022.

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Photo of Baroness Mair Eluned Morgan Baroness Mair Eluned Morgan Labour 3:57, 8 June 2022

Thanks very much. Well, the investment made into Rutherford was undertaken by a fund manager who was operating under contract to the Development Bank of Wales, and obviously that's at arm's length from the Welsh Government. So, in terms of due diligence, that would have been their responsibility. The fund is a portfolio fund and, of course, there are investments where there are high risks, and of course we can't expect every one of them to deliver. The fund achieved its first exit in 2019 and it did return nearly £20 million to the Development Bank of Wales.