HomeMy WebLinkAboutMinutes - 2020.07.01 - 33587OAKLAND 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 July 1, 2020 at 9:31 a.m. in the Elections Division
Canvassing Room
Members Present: James H. VanLeuven, Jr.
Joseph Rozell
Jeffrey Phelps
Andy Meisner
Others Present: Silvia Frank, Human Resources
Natalie Neph, Treasury
Chris Kuhn, AndCo Consulting
Peter Brown, AndCo Consulting
Lauri Siskind, Trustee
Others Present
Via Telephone: Curtis Childs, Trustee
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Jackson Craig, H.I.G. Capital
Haroon Chishti, H.I.G. Capital
Andrew Lai, Marathon Asset Management
Jason Freidman, Marathon Asset Management
1. Meeting was open for public comment. No one spoke.
2. Chris Kuhn and Peter Brown of AndCo distributed the H.I.G. Bayside Opportunity Loan Fund
VI and the Marathon Distressed Credit Fund (“MDCF”) presentations and provided a
summary of the highlights contained in the report.
3. Jackson Craig and Haroon Chishti of H.I.G. Capital gave a presentation on the H.I.G. Bayside
Opportunity Loan Fund VI and presented their strategies on the Small-Cap Distressed Credit
and Special Situations to the Oakland County Employees’ Retirement System.
4. Andrew Lai and Jason Freidman of Marathon Asset Management presented their strategies
on Distressed Credit to the Oakland County Employees’ Retirement System.
5. Chris Kuhn and Peter Brown of AndCo provided a summary of the presentations.
Moved by Phelps, seconded by Meisner to make a recommendation to the full board to
allocate 28 million of Oakland County Employees Retirement System (OCERS) funds and 52
million of VEBA funds to be split evenly between the H.I.G Capital Bayside Opportunity Loan
Fund VI and Marathon Distressed Credit Fund. Motion carried.
6. The meeting was adjourned without objection at 11:26 a.m.
Respectfully submitted,
________________________________ ________________________________
James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary