September 15, 2021 10:00 a.m.

Post


The Regular Retirement Board meetings have returned to in-person meetings held in the SCERS Board Room. You can watch the meeting live here.

Agenda

Open Session

Item 1 – Call to Order – No Materials

Item 2 – Public Comment – No Materials

Open Session – Consent Matters

Item 3 – Minutes of the August 18, 2021 regular meeting​

Item 4A – Conyers, Kevin; Staff recommendation dated September 15, 2021 (confidential)

Item 4B – Forster, Michael; Staff recommendation dated September 15, 2021 (confidential)

Item 4C – Shtadler, Anna; Staff recommendation dated September 15, 2021 (confidential)

Item 4D – Wrightsman, Leta; ​Staff recommendation dated September 15, 2021 (confidential)

Item 4E – Reference: General Law and Authorized Board Actions on Disability Retirement ​Proposed Decisions

Item 5 – Ratification of Service Retirement Application Approvals – August 2021

Item 6 – State Association of County Retirement Systems Legislative Update – September 2021​

Item 7 – Trading Cost Analysis Report – Second Quarter 2021​

Item 8 – Monthly Investment Manager Activity, Complia​nce, and Watch List Report – August 2021​​

Item 9 – Monthly Report of Investment Activity – August 2021

Executive Reports

Item 10 – Chief Executive Officer’s Report – No Materials

Item 11 – Chief Investment Officer’s Report – No Materials

Item 12 – Chief Benefit Officer’s Report – No Materials

Administrative Matters

Item 13Protection of Individual Records Policy
Staff to recommend Board re-affirm Protection of Individual Records Policy. Deliberation
and action.

Item 14Privacy and Confidentiality Policy
Staff to recommend Board re-affirm Privacy and Confidentiality Policy. Deliberation and
action.

Item 15Delegation of Authority to Board President Policy​
Staff to recommend the Board approve the Delegation of Authority to Board President
Policy, which delegates certain powers to the President of the Board of Retirement in
the event that SCERS’ Chief Executive Officer is recused from certain personnel-related
activities and decisions. Deliberation and action.

Investment Matters

Item 16William Blair International Small Cap - Account Conversion​​
Staff to recommend Board approve the conversion of the William Blair International
Small Cap account from a separately managed account to a commingled fund structure
and authorize the Chief Executive Officer to execute any necessary agreements related
to the transaction. Deliberation and action.

Item 17Asset Class Restructuring: Private Equity
Staff to discuss implementation path for revised strategic asset allocation in private
equity. Receive and file.

Item 18Asset Class Restructuring: Private Credit
Staff to discuss implementation path for revised strategic asset allocation in private
credit. Receive and file.

Item 19​ – Education: Private Equity Co-Investment Structure
Staff and counsel to discuss implementation considerations regarding a co-investment
structure in private equity. Receive and file.

Item 20Quarterly Investment Performance Report - Alternative Assets
Cliffwater, LLC to present the performance report for the periods ending June 30, 2021
for the Absolute Return portfolio, and the period ending March 31, 2021 for the Private
Equity, Private Credit, Real Assets, and Opportunities portfolios. Receive and file.

Item 21​ – Quarterly Investment Performance Report - Real Estate
Townsend Group to present the performance report on real estate investments for the
quarter ending June 30, 2021. Receive and file.