Closed Session: Investment Committee Meeting Minutes
Meeting: February 29, 2024 | Posted: December 9, 2025 | SURS Board of Trustees Meeting Minutes
The meeting of the Investment Committee of the Board of Trustees of the State Universities Retirement System (SURS) convened on Friday, February 29, 2024, at 9:00 a.m.
Upon motion by Trustee Rock, seconded by Trustee Vasquez, and following a roll call vote, the SURS Investment Committee went into closed session pursuant to §2(c)(7) of the Open Meetings Act.
The following trustees were present: Dr. Andriy Bodnaruk, Dr. Fred Giertz, Mr. Scott Hendrie, chair, Mr. John Lyons, Mr. Pranav Kothari, Dr. Steven Rock, Mr. Antonio Vasquez, Mr. Collin Van Meter, and Mr. Mitch Vogel.
Others present: Ms. Suzanne Mayer, Executive Director; Mr. Doug Wesley, Chief Investment Officer (CIO); Mr. Michael Schlachter, CIO Designee; Ms. Bianca Green, General Counsel; Ms. Kim Pollitt, Mr. Joe Duncan and Mr. Shane Willoughby, Sr. Investment Officers; Mr. Alex Ramos and Mr. Brian DeLoriea, Investment Officers; Ms. Stephany Brinkman, Ms. Stephanie Jeffries, and Mr. Darian Saracevic, Investment Analysts; Ms. Tracy Bennett, Compliance Analyst; Mr. Jefferey Saiger, Chief Technology Officer; Ms. Anna Dempsy, Investment Counsel; Ms. Jackie Hohn, Chief Internal Auditor; Ms. Nichole Hemming, Chief Human Resources Officer; Ms. Kristen Houch, Director of Legislative and Stakeholder Relations; Ms. Alicia Route, Legislative Analyst; Ms. Kelly Carson, Ms. Chelsea McCarty and Ms. Annette Ackerman, Executive Assistants; Mr. Colin Bebee, and Mr. David Sancewich, Meketa; Mr. Michael Calabrese of Foley.
The SURS Investment Committee went into closed session at 1:36 p.m.
Consideration of Real Assets Commitment
Mr. Shane Willoughby and Callan consultant, Ms. Bernie Bazile, provided background information on a proposed Real Assets commitment and shared detailed information regarding the firm being considered. An extensive discussion regarding the recommended firm followed.
Review of Tail Risk Reporting
Mr. Colin Bebee of Meketa presented a summary report of the SURS Tail Risk Hedging program. During his report, Mr. Bebee discussed the costs, current portfolio positioning and major metrics of the program.
Consideration of Consent of Investment Advisory Agreement and Authority for Execution
Ms. Kim Pollitt and Mr. Joe Duncan informed the board that Fairview Capital Partners is entering into an agreement where the firm will convert to a limited liability company and New York Life will purchase forty-nine percent of the Firm’s equity. The change in ownership of the partnership constitutes an assignment of SURS’ investment agreement and Fairview asked that SURS provide consent. The matter is not yet public and needs to remain confidential for a few weeks.
Return to Open Session
The open meeting resumed at 2:22 p.m.
Ms. Suzanne Mayer
Executive Director and Secretary, SURS Board of Trustees