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Waterford Police & Fire Pension Board approves invoices, capital calls, $5.8M liquidation and Mariner-recommended rebalance
Summary
At its June 2 meeting the Waterford Township Police & Fire Pension Board approved invoices, distributions, capital calls and a $5,807,908 liquidation, and authorized an investment rebalance recommended by Mariner Wealth Advisors; all motions passed unanimously.
The Waterford Township Police & Fire Pension Board on June 2 approved a slate of routine financial transactions, including vendor invoices, distributions, two capital calls and a liquidation that reallocated about $5.8 million into a money market fund, and authorized an investment rebalance recommended by Mariner Wealth Advisors.
Chairman Matt Covey moved to "support and approve the following invoices, distributions, capital calls and liquidation," a motion that Trustee J. Thomas Lesnau supported; the motion passed unanimously. The board approved three vendor invoices: Hamlin Capital Q1 for $22,852.30, Seizert Capital Partners Q1 for $17,945.00 and Clarkston Capital Q1 (final) for $2,042.00.
The board also approved distributions of $24,230.00 to Newbury Bridgepoint, $12,411.25 to Bloomfield Capital and $175,653.93 to Mavik Real Estate, and authorized capital calls of $100,000.00 for RCP Multi-Strategy II and $388,564.88 for Mavik Real Estate.
As part of the same approvals trustees authorized liquidation of Clarkston Capital funds to account #8206 and instructed Fifth Third Bank to purchase FSMAX (CUSIP ending …1743) totaling $5,807,908. That liquidation and reinvestment was included in the motion the board approved unanimously.
Separately, Mariner Wealth Advisors presented rebalancing recommendations. Mike Holycross gave Mariner’s report and Chairman Covey moved to approve the rebalance "as recommended by Mariner," a motion supported by Trustee Richard Haefner; it passed unanimously.
Votes at a glance: approval of April minutes (motion by Covey, supported by Lesnau) passed unanimously; approval of invoices/distributions/capital calls/liquidation (motion by Covey, supported by Lesnau) passed unanimously; authorization of Mariner-recommended rebalance (motion by Covey, supported by Haefner) passed unanimously.
The approvals affect the pension fund’s cash flow and portfolio composition but the board did not discuss any changes to contribution policy, benefit levels, or retirements at the meeting. The next board meeting is scheduled for Aug. 11, 2026, at 10:00 a.m. at the Waterford Fire Department conference room.
