KPPA board approves settlement with Blackstone; chair authorized to sign

The Kentucky Public Pensions Authority moved out of executive session and the board approved a settlement with Blackstone Alternative Asset Management and affiliated entities, authorizing the KPPA chair to sign settlement documents and to file any litigation required, the chair said.

According to the chair’s remarks to the meeting, a motion to approve the settlement was placed on the record and identified by the chair as moved by “JT” and seconded by “Larry.” The chair called for a voice vote, members responded “aye,” and the chair announced the motion was adopted. The chair also said the board had no decisions voted on or made during the executive session before bringing the settlement motion to the open meeting.

The board then approved a separate motion to authorize the same settlement on behalf of the officers and trustees, again authorizing filing of any litigation required and authorizing the KPPA chair to sign all settlement documents. The chair recorded that this motion was moved by “Doctor Carver” and seconded by “Jim Toney”; the chair called for a voice vote, members responded “aye,” and the chair announced the motion was adopted. The meeting adjourned immediately afterward.

The transcript does not specify the financial terms of the settlement, the number of board members who voted for or against the motions, nor the detailed legal documents to be filed. The chair explicitly asked the record to reflect that no formal decisions were made within the prior executive session. The motions and their outcomes were recorded by voice vote without a roll-call tally in the provided transcript.