HomeMy WebLinkAboutMinutes - 2023.11.16 - 40995OAKLAND 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 on November 16, 2023 at 10:05 a.m. in the Waterford
Conference Room of the Executive Office Building.
I. Call to Order/ Roll Call
Members Present:
Members Absent
With Notice:
Others Present:
Joseph Rozell, James VanLeuven, Jeffrey Phelps, Robert Wittenberg
Carly Webster, Human Resources
Kelly Pena, Human Resources
Chris Kuhn, AndCo
Peter Brown, AndCo
Jason Friedman, Marathon Asset Management
Seth Healy, Strategic Value Partner
Michael Schwartz, Strategic Value Partner
II. Approval of the Agenda
A. Moved by Wittenberg, seconded Van Leuven to approve the agenda as submitted.
Motion carried.
III. Public Comment
None
IV. Regular Agenda
V. Reports
A. Jason Friedman of Marathon Asset Management, L.P. presented on Distressed
Debt. Discussion followed.
B. Seth Healy and Michael Schwartz of Strategic Value Partners, LLC presented on
Distressed Debt. Discussion followed.
Moved by Van Leuven, seconded by Phelps to recommend to the full board to hire
Marathon Asset Management, L.P. for $10 Million for the Oakland County
Retirement & Deferred Compensation Board and $20 Million for the VEBA Board,
subject to legal review. Motion carried.
VI. Unfinished Business
None
VII. New Business
A. Chris Kuhn mentioned that an updated Investment Policy Statement for the VEBA
Board will be completed and presented soon.
VIII. Trustee Comment
A. Chairperson Rozell adjourned the meeting without objection at 11:55 pm.
Investment Sub -Committee Minutes
Oakland County Employees' Retirement and Deferred Compensation Board
November 16, 2023
Page 2
Respectfully submitted,
Joseph Rozell, aairperson Carly'/ebster, Scretary