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Minutes of the April 29, 2021 Retirement Board meeting: <br /> Present: Robert Cunha,Joseph Foley,Alan Fields, Frederick Weiss, Carolyn Kosnoff, Marguerite Oliva <br /> and Jim Condon <br /> Absent: None <br /> NEW MEMBERS: (4) Sarina Choun, Constance Langlois, Student Support Instrs.; John Zaccardi, <br /> Highway Superintendent; Brendan Sweitzer, Dispatcher <br /> RETIREMENTS: (1) Mark Corr,Police Chief, 04/19/2021 <br /> DEATHS: (2) Mark Freitas, LPS Custodian, 03/27/2021 (active member); Theresa Leslie, Secretary, <br /> 04/05/2021 <br /> The Lexington Retirement Board met remotely through Zoom tele-conferencing during the Covid-19 <br /> Pandemic. The Town Clerks Office posted the meeting,which included the information for any <br /> interested party to join the call. All Board members were present for this meeting. Chairman Robert <br /> Cunha called the meeting to order at 8:30 am. <br /> The Board accepted the 043021 Warrant and the April payroll. The March minutes and February <br /> financials were reviewed and approved. <br /> Robert Cunha reviewed the April agenda with all Board members and staff in attendance. It was noted <br /> the Board received a call notice from Angelo Gordon in the amount of$325,000.00 on 04/06/21. <br /> There is no update to report on the matter of Robert Magarian. The Retirement Board will continue to <br /> garnish Mr. Magarian's pension payments until further notice. <br /> The Board members were advised to review PERAC memo#14 regarding 2nd qtr. 2021 Board training. <br /> All courses remain offered online due to the ongoing Pandemic. <br /> Henry Jaung presented the Meketa portfolio update. He began with an update on the Private Debt <br /> Equity search. With the assistance of Tim Atkinson, both reviewed the three (3) highly advantageous <br /> candidates, as well as one (1) advantageous candidate. The three highly advantageous were Ares <br /> Capital, Golub Capital, and Monroe Capitol,while the sole advantageous candidate was Barings. All of <br /> the named candidates are back by private equity sponsors and try to max out around 6 years from an <br /> inception date. Monroe also deals in non-sponsorships. Robert Cunha made a motion to interview the <br /> following candidates at the May 27, 2021 Retirement Board meeting;Ares, Golub, and Monroe. This <br /> motion was seconded by Fred Weiss, and unanimously approved by Joe Foley, Carolyn Kosnoff, and Alan <br /> Fields. The vote was 5-0 to conduct the interviews. Henry Jaung continued with the performance <br /> review. The portfolio balance as of March 31, 2021 is $212,800,306.00, up $3.5 from the prior month. <br /> The market is on the rebound. All asset classes are performing well through Q1. Domestic equities <br /> continue to rise, and International equities are starting to show an uptick in gains. Overall,the portfolio <br /> is in great position. No major changes right now. Cash balance remains high at$21.1. Future meetings <br /> will have discussions regarding a possible acquisition to lower the balance. Henry concluded his <br /> presentation at 8:55 am. <br />