Houston Firefighters Relief and Retirement Fund Investment Committee met Aug. 15

Houston Firefighters Relief and Retirement Fund Investment Committee met Aug. 15.

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, August 15, 2023, at 10:15 a.m.

Trustees present were Brett R. Besselman (Chairman), Stephen R. Whitehead (Vice Chair), Lisa R. Slagle, Gerard L. Daniels, Pete Ng, David O. Lantrip, Arif Rasheed, and Albertino Mays. Trustees absent were David Riegor and Earnest W. Wotring. 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 10:15 a.m. and invited comments from the public. No comments were received.

The CIO presented the proposed transfer of digital assets to Blackrock Bitcoin Trust from NYDIG. There was a motion by Pete Ng, second by Arif Rasheed, to authorize the CIO to transfer digital assets to Blackrock Bitcoin Trust from NYDIG, pending final diligence and negotiations. The proposed transfer does not constitute additional investments in digital assets.

The motion carried.

The CIO reviewed the proposed amendments to the Investment Policy Statements (IPS). After some discussion, there was a motion by Stephen E. Whitehead, and seconded by Pete Ng, to adopt the proposed Investment Policy Statement, as presented. The motion carried.

The CIO reviewed the Allocation and Activity Summary showing the market value of the Fund’s assets as of June 30, 2023, to be approximately $5.105 billion. He also noted that as of June 30, 2023, the estimated Fiscal Year 2023 rate of return is 4.25%. He then reviewed the Fiscal Year 2024 Private Market and Real Estate targets and the monthly investment actions taken.

There being no further business, the meeting adjourned at 10:49 a.m. on a motion by David O. Lantrip, seconded by Gerard L. Daniels. The motion carried.

https://www.hfrrf.org/_files/ugd/576db6_14b5f9ed75dc45f69371e6d4a0706524.pdf