HomeMy WebLinkAboutMinutes - 2017.02.13 - 32964OAKLAND 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 February 13, 2017 at 9:00 a.m. in the Waterford Room,
Executive Office Building (EOB). For phone line accessibility, meeting location changed from
East Oakland to accommodate AEW, unable to attend due to inclement weather. Notice of
the new meeting location was posted at East Oakland at the time of the meeting.
Members Present: James H. VanLeuven, Jr. Joseph Rozell
Laurie Van Pelt Andy Meisner (via conference call)
Others Present: Jeff Phelps, Trustee Rhonda Van Tiflin, Human Resources
Natalie Neph, Treasurer’s Christopher Kuhn, AndCo
Peter Brown, AndCo Emily Margolis, AEW (via conference call)
Cia Buckley Marakovits, Dune Marc Davidson, AEW (via conference call)
Geoffrey Langdon, Alidade Steven Faliski, Alidade
1. Meeting was open for public comment. No one spoke.
2. Chris Kuhn and Peter Brown of AndCo Consulting made a presentation to the Committee;
a. Distributed and reviewed three reports:
i. Asset/Manager Summary – February 2017
ii. Investment Performance Review for Period Ending December 31, 2106
iii. updated version of Value-add and Opportunistic Real Estate Manager Analysis,
January 19, 2017 report
b. Discussion on establishment of a retention guideline for unsolicited investment
proposals. Agreement AndCo is to log unsolicited written (e-mail or hardcopy) inquiries
and proposals for investment consideration, to be retained and considered in searches
meeting the corresponding strategy criteria for a period of two years from receipt.
3. Emily Margolis and Marc Davidson of AEW made a presentation (telephonically) to the
Committee.
4. Cia Buckley Marakovits of Dune made a presentation to the Committee.
5. Geoffrey Langdon and Steven Faliski of Alidade made a presentation to the Committee.
6. Discussion on the three presentations. Motion by Van Pelt, supported by Rozell, to redirect
assets currently with Morgan Stanley for investment:
a. from the Oakland County Employees’ Retirement System (OCERS), $5 million to AEW
and $5 million to Dune, and
b. from the VEBA, $10 million to AEW and $10 million to Dune.
Motion carried.
7. Moved by Meisner, seconded by Van Pelt, to adjourn the meeting at 12:30 p.m. Motion
carried.
Respectfully submitted,
________________________________ ________________________________
James H. VanLeuven, Jr., Chairperson Rhonda Van Tiflin, Assistant Secretary