Closed Session: Investment Committee Meeting Minutes
Meeting: December 7, 2023 | 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 Thursday, December 7, 2023, at 9:00 a.m.
Upon motion by Trustee Giertz, 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, Mr. Richard Figueroa (via zoom), Ms. Jamie-Clare Flaherty (via zoom), 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 and Mr. Darian Saracevic, Investment Analysts; Ms. Tracy Bennett, Compliance Analyst; Mr. Jefferey Saiger, Chief Technology Officer; Ms. Kristen Houch, Director of Legislative and Stakeholder Relations; 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 1:15 p.m.
Consideration of Real Assets Commitment
Mr. Shane Willoughby and Callan consultant, Ms. Jan Mende, 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 the major metrics of the program.
Return to Open Session
The open meeting resumed at 1:45 p.m.
Ms. Suzanne Mayer
Executive Director and Secretary, SURS Board of Trustees