Board approves two settlements with Blackstone; chair authorized to sign

The Kentucky Public Pensions Authority approved two settlement motions related to Blackstone Alternative Asset Management and affiliated entities after returning to open session, authorizing the board chair to sign settlement documents and to file any litigation required by the agreements, the chair said.

The chair introduced the first motion to "approve the settlement with Blackstone alternative asset management and affiliated entities as discussed in closed session, including authorizing the filing of any litigation required by the settlement and authorizing the chair to sign all settlement documents on behalf of the board." A motion was made and seconded, three members responded "Aye," and the chair declared the motion adopted.

The chair then sought a second motion to "approve the settlement on behalf of the officers and trustees as discussed in closed session and authorizing the chair to sign all settlement documents on behalf of the board." The transcript records that Mister Riley moved and Larry seconded. After the chair asked "Any discussion?" and none was offered, the chair called for a vote and recorded the motion as adopted.

Both actions were taken without recorded debate in open session. The chair closed the meeting by noting the agenda was finished and adjourning the session.

Actions recorded in the meeting: two motions to approve settlements with Blackstone Alternative Asset Management and affiliated entities (one specifically authorizing filing litigation required by the settlement; the second approving settlement on behalf of officers and trustees). Both motions were adopted and each authorized the chair to sign settlement documents on the board's behalf.

The meeting then adjourned.