Houston Firefighters Relief and Retirement Fund Investment Committee met May 16

Houston Firefighters Relief and Retirement Fund Investment Committee met May 16.

Here are the minutes provided by the committee:

A meeting of the Investment Committee of the whole Board of Trustees convened at the Houston Firefighters' Relief and Retirement Fund (HFRRF) offices at 4225 Interwood North Parkway, Houston, Texas 77032 on Tuesday, May 16, 2023, at 10:52 a.m.

Trustees present were Brett R. Besselman (Chairman), Gerard L. Daniels, Pete Ng, David O. Lantrip, Arif Rasheed, Earnest W. Wotring, and Albertino Mays. Trustees absent were Stephen R. Whitehead (Vice Chair), Lisa R. Slagle, and David Riegor. Also, present were staff members Timothy Schauer (Executive Director), Adam E. Smith (General Counsel), Ajit Singh, Chief Investment Officer (CIO), and Ryan Splawn, Senior Investment Officer (SIO).

The Chairman called the meeting to order at 10:52 a.m.

The SIO presented an overview, with additional comments from the CIO, of the proposed investment with Coller International Partners IX-A, L.P.

There was a motion by David O. Lantrip, seconded by Pete Ng, to authorize the CIO to commit up to US$ 60 million to Coller International Partners IX-A, L.P., a private equity closed-end partnership, pending final diligence and negotiations. The motion carried.

The CIO reviewed the Allocation and Activity Summary showing the market value of the Fund’s assets as of March 31, 2023, to be approximately $5.030 billion. He also noted that as of March 31, 2023, the estimated Fiscal Year 2023 rate of return is 1.86%. He then reviewed the Fiscal Year 2023 Private Market and Real Estate targets and the monthly investment actions taken.

There being no further business, the meeting adjourned at 11:26 a.m. on a motion by David O. Lantrip, seconded by Gerard L. Daniels. The motion carried.

https://www.hfrrf.org/_files/ugd/576db6_c6466b7beef44f7d8f5d1d4f004a7b2c.pdf