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Board approves minutes and consent calendar; CIO reports $100M closed investment under delegated authority
Summary
The retirement board moved and approved minutes of its Feb. 12, 2025 meeting and the consent calendar. The chief investment officer reported a $100 million delegated investment in QUBE Fund LP that closed March 1, 2025.
The board took three formal, recorded actions during the open meeting.
1) Minutes: The board moved to adopt the minutes of the Feb. 12, 2025 retirement board meeting. A motion to adopt was seconded and the chair called the vote. The board approved the minutes by voice vote.
2) Consent calendar: The board moved to approve the consent calendar. The motion was seconded and approved by voice vote.
3) Closed investment (reported): Chief Investment Officer Curt reported that, under delegated authority, staff closed an investment of $100,000,000 in QUBE Fund LP through the San Francisco Absolute Return Investors 2 portfolio; the investment closed on March 1, 2025. That transaction was reported to the board; it did not require a board vote because it occurred under delegated authority.
No public comments were recorded on these items.
