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We study vacua of N = 4 half-maximal gauged supergravity in five dimensionsand determine crucial properties of the effective theory around the vacuum. Themain focus is on configurations with exactly two broken supersymmetries, sincethey frequently appear in consistent truncations of string theory andsupergravity. Evaluating one-loop corrections to the Chern-Simons terms we findnecessary conditions to ensure that a consistent truncation also gives rise toa proper effective action of an underlying more fundamental theory. To obtainconcrete examples, we determine the N=4 action of M-theory on six-dimensionalSU(2)-structure manifolds with background fluxes. Calabi-Yau threefolds withvanishing Euler number are examples of SU(2)-structure manifolds that yield N=2Minkowski vacua. We find that that one-loop corrections to the Chern-Simonsterms vanish trivially and thus do not impose constraints on identifyingeffective theories. This result is traced back to the absence of isometries onthese geometries. Examples with isometries arise from type IIB supergravity onsquashed Sasaki-Einstein manifolds. In this case the one-loop gaugeChern-Simons terms vanish due to non-trivial cancellations, while the one-loopgravitational Chern-Simons terms are non-zero.

Partial Supergravity Breaking and the Effective Action of Consistent Truncations