HomeMy WebLinkAboutMinutes - 2020.01.22 - 32901OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD
INVESTMENT SUB-COMMITTEE MINUTES
A meeting of the Oakland County Employees' Retirement and Deferred Compensation Board
Investment Sub-Committee was held January 22, 2020 at 10:30 a.m. in the Board of
Commissioners – Committee Room A.
Members Present: James H. VanLeuven, Jr.
Joseph Rozell
Jeffrey Phelps
Members Absent: Andy Meisner (with notice)
Others Present: Silvia Frank, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Carly Webster, Human Resources
Chris Kuhn, AndCo Consulting
Evan Scussel, AndCo Consulting
Kevin Laake, AndCo Consulting
John Haug, Ardian
Wilfred Small, Ardian
John Brecker, Hamilton Lane
Tom Kerr, Hamilton Lane
Lorraine Hliboki, Pamona
Patrick Madaus, Pamona
Eric Thunem, Portfolio Advisors
Hugh Perloff, Portfolio Advisors
1. Meeting was open for public comment. No one spoke.
2. Chris Kuhn, Kevin Laake and Evan Scussel of AndCo distributed the Private Equity Review
presentation and provided a summary of the highlights contained in the report.
Chris Kuhn distributed the Performance Based Fees memo dated January 22, 2020. The
trustees unanimously agreed to having AndCo attempt to negotiate a performance fee
structure with the investment managers.
Chairperson VanLeuven called a recess at 12:18 p.m. The committee reconvened at 1:00
p.m.
3. John Haug and Wilfred Small distributed and presented their strategies on Private Equity to
the Oakland County Employees’ Retirement System.
4. John Brecker and Tom Kerr of Hamilton Lane distributed and presented their strategies on
Private Equity to the Oakland County Employees’ Retirement System.
5. Lorraine Hliboki and Patrick Madaus of Pamona distributed and presented their strategies on
Private Equity to the Oakland County Employees’ Retirement System.
6. Eric Thunem and Hugh Perloff distributed and presented their strategies on Private Equity to
the Oakland County Employees’ Retirement System.
7. Chris Kuhn, Kevin Laake and Even Scussel of AndCo provided a summary of the
presentations.
Investment Sub-Committee Minutes
Oakland County Employees’ Retirement and Deferred Compensation Board
January 22, 2022
Page 2
Moved by Phelps, seconded by Rozell to make a recommendation to the full board to allocate
20 million of Oakland County Employees Retirements System (OCERS) funds and 35 million
of VEBA funds to be split evenly between Hamilton Lane and Portfolio Advisors. Motion
carried.
8. The meeting was adjourned without objection at 4:12 p.m.
Respectfully submitted,
________________________________ ________________________________
James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary