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Summary:
NEPC, the Investment Consultant for the OPEB Trust Fund, has recommended the addition of a private equity manager and a private debt manager for the OPEB Fund. A search for both managers was done through NEPC’s search process, and the results were presented to the Investment Committee and the Finance Committee. Both committees approved the recommendation to hire HarbourVest Partners to manage the private equity allocation, and Comvest Capital to manage the private debt allocation. |
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Fiscal & Efficiency Data:
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Recommended Action:
Approve the selection of HarbourVest Partners and Comvest Capital to manage a portion of the assets in the OPEB Fund and authorize the Chief Financial Officer to negotiate and execute investment management agreements and any other necessary documents with these firms, subject to review by the City Attorney’s Office as to form and legality. |
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Agenda Item attachment(s) on file in the City Clerks Office.
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Note:
All agenda items must
be in the City Clerk's office by Noon Friday, six(6) business days prior to the
regular Monday City Council meeting.
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Contact:
Katrina Laudeman, OBFS
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Approved By:
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Department
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Date and Time
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Budget Outside Routing Approval |
5/3/2017 4:30 PM |
City Clerk |
5/4/2017 7:18 AM |
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