Houston Firefighters Relief and Retirement Fund Investment Committee met July 16

Houston Firefighters Relief and Retirement Fund Investment Committee met July 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, July 16, 2024, at 10:16 a.m.

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

The Chair called the meeting to order at 10:16 a.m. and invited comments from the public. No comments were received.

The SIO presented an overview of the proposed investment with Northlane Capital Partners III LP.

There was a motion by Lisa R. Slagle, seconded by Gerard L. Daniels, to authorize the CIO to commit up to 20 million USD in Northlane Capital Partners III LP, a closed-end private equity partnership, pending final diligence and contract discussions. The motion carried.

The SIO reviewed the Allocation and Activity Summary showing the estimated market value of the Fund’s assets as of June 30, 2024, to be approximately $5.364 billion. The Board noted that for Fiscal Year 2024 ending June 30, 2024, the estimated rate of return was 9.39%. The SIO then reviewed the Fiscal Year 2024 Private Markets Strategy report.

There being no further business, the meeting adjourned at 10:28 a.m. on a motion by Gerard L. Daniels, seconded by Pete Ng. The motion carried.

https://www.hfrrf.org/Resources/966e77e4-c4c8-4d60-8aa4-d47b5ff2052c/Minutes%20Investment%20Committee%20July%2016%202024.pdf