HomeMy WebLinkAboutMinutes - 2020.10.02 - 34068OAKLAND 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 in Committee Room A of the Board of Commissioners on
October 2, 2020 at 1:0 3 p.m.
I. Call to Order/ Roll Call
Members Present:
James H. VanLeuven, Jr.
Jeffrey Phelps
Andy Meisner
Members Absent with notice:
Joseph Rozell
Others Present:
Silvia Frank, Human Resources
Lauri Siskind, Trustee
Chris Kuhn, AndCo
Peter Brown, AndCo
Benjamin Baldridge, AndCo (via Skype)
II. Approval of the Agenda
Moved by Phelps, seconded by VanLeuven to approve the agenda. Motion carried.
III. Public Comment
None
IV. Regular Agenda
None
V. Reports
A. Chris Kuhn, Peter Brown and Benjamin Baldridge of AndCo distributed the Direct
Lending – Senior Review presentation and provided a detailed summary of the
report.
Moved by Phelps, seconded by Me isner to recommend to the full Board to allocate
$12 million of the Oakland County Employees Retirement System (OCERS) fund
and $20 million of the VEBA funds’ fixed income strategy of the portfolios to
BlackRock Direct Lending Feeder IX-L. Motion carried.
B. Chris Kuhn, Peter Brown and Benjamin Baldridge of AndCo distributed the
Multisector Fixed Income Manager Analysis presentation and provided a detailed
summary of the report.
Moved by Phelps, seconded by Meisner to terminate Templeton and fund PIMCO’s
Diversified Income Strategy with a target allocation of 5%. Motion carried.
VI. Unfinished Business
None
VII. New Business
None
Investment Sub-Committee Minutes
Oakland County Employees’ Retirement and Deferred Compensation Board
October 2, 2020
Page 2 VIII. Trustee Comment
None
IX. Chairperson VanLeuven adjourned the meeting without objection at 2:47 p.m.
Respectfully submitted,
________________________________ ________________________________
James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary