2020-10-22-RB-min - Laserfiche WebLink

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fund and move it to BNY Mellon Cash Reserve. The motion was seconded by Alan Fields, and unanimously approved by Fred Weiss, Carolyn Kosnoff, and Joseph Foley. Michele Joyeux and Rich Jacobson presented the Golub fund at 9:10 am. The firm currently holds over $30B in capitol under management.The direct lending accounts for over$2613, while$513 is allocated for syndicated loans. The performance of Golub loans relies heavily on the borrowers paying in a timely manner to avoid credit risks. They currently have 550 companies in the portfolio. Through the Covid-19 pandemic,they reported on one direct loan default. It was in the restaurant sector of the portfolio. It was noted Golub only holds 15 restaurants total. Moving forward into 2021, Golub will be seeking more buy and hold corporate opportunities. There should be a borrower friendly environment with wider pricing options heading 2021. Golub remains well positioned to deploy plenty of capitol. Rich Jacobson wrapped up his presentation at 9:45 am. Bob Cunha motioned to adjourn the meeting at 9:55 am,which was seconded by Alan Fields, and unanimously approved by Fred Weiss,Joe Foley, and Carolyn Kosnoff. The next Retirement Board meeting will be held on Tuesday, November 24, 2020 at 8:30 am. The meeting will be held remotely via Zoom. Michael Trotsky from PRIT will present the update at 9:00 am. Robert Cunha, Chairman Alan Fields, Appointed Member Carolyn Kosnoff, Ex Officio Member Joseph Foley, Elected Member Frederick Weiss, Appointed Member