ICERS

# MINUTES

REGULAR MEETING OF THE IMPERIAL COUNTY BOARD OF RETIREMENT November 20, 2024 9:00 A.M. 940 W. Main Street County Administration Center, Second Floor El Centro, CA 92243

## 1. The meeting called to order by Chair Jauregui at 9:03 a.m.

## A. Roll Call

MEMBERS PRESENT: Patrica Lizarraga, Mario Salinas, Norma K. Jauregui, Jose Landeros, Carl L. Armstrong, David H. Prince, AJ Gaddis

MEMBERS ARRIVING AFTER ROLL CALL: Luis Plancarte

MEMBERS ABSENT: Suzanne C. Bermudez, Jennifer Benavidez

LEGAL REPRESENTATIVES PRESENT: Board General Counsel: Chris Waddell

STAFF PRESENT: Scott W. Jarvis, Retirement Administrator, Cristina Solis Vargas, Retirement Specialist I

CLERK OF THE RETIREMENT BOARD: Jessica Mitchell, Retirement Administrative Assistant

OTHERS PRESENT: Sixth Street Partners, Kevin Deeth, Principal, Capital Formation, HarbourVest Partners, LLC, Teri Noble, Principal, Investor Relations, Verus, Brian Kwan, Managing Director, Senior Consultant, Verus Investments

OTHERS PRESENT VIA TELECONFERENCE: HarbourVest Partners, LLC, Sarah Zilzer, Principal, Primary Product Specialist

## OPEN SESSION

## B. Pledge of Allegiance

Trustee Lizarraga led the Pledge of Allegiance.

## 2. Discussion of the Agenda:

A. Items pulled from the Action Calendar: None

B. Items pulled from the Discussion Calendar: None

---

Discussion of the Agenda (Continued):

C. Items pulled from the Consent Agenda: None

D. Emergency/Necessity Items added to the Agenda: None

E. Approval of the Agenda:

MOTION by Salinas, Second by Prince, to approve the Agenda carried unanimously by those present.

F. Approval of the Consent Agenda:

MOTION by Lizarraga, Second by Armstong, to approve the Consent Agenda carried unanimously by those present.

## 3. Public Comments:

This is the time for the public to address the Board concerning items that are not on this Agenda, but within the jurisdiction of the Board. Matters on the Action Calendar, Discussion Calendar, or Closed Session Agenda may be addressed before or during consideration of the Agenda item. Speaking time is limited to three (3) minutes.

Clerk of the Retirement Board reported no emails or phone calls received.

## ACTION CALENDAR

## 4. Approval of the Minutes of the October 16, 2024 adjourned regularly scheduled meeting.

MOTION by Landeros, Second by Salinas to approve the Minutes of the October 16, 2024 adjourned regularly scheduled meeting. Motion carried unanimously by those present, Trustee Lizarraga abstained.

## 5. Presentations by Investment Managers:

A. HarbourVest Partners, LLC, Sarah Zilzer, Principal, Primary Product Specialist Teri Noble, Principal, Investor Relations

Ms. Noble provided an overview of HarbourVest Partners’ relationship with ICERS.

Ms. Zilzer provided the Fund Performance Review, Investment Summary and Market overview as of the quarter ending June 30, 2024.

B. Sixth Street Partners, Kevin Deeth, Principal, Capital Formation, and Brian D'Arcy, Partner, Head of Strategy

Mr. Deeth provided brief introduction of himself and reintroduction of Sixth Street Partners as an overview and provided ICERS investment performance as of June 30, 2024.

## TRUSTEE PLANCARTE ARRIVED AT 9:08 AM

---

AGENDA

REGULAR MEETING OF THE

IMPERIAL COUNTY BOARD OF RETIREMENT

November 20, 2024

09:00 A.M. 940 W. Main Street County Administration Center, Second Floor

El Centro, CA 92243

All supporting documentation is available for public review in the Retirement Office located at 1221 W. State Street, El Centro, CA 92243 during regular business hours, Monday through Friday, excluding holidays, 8:00 a.m. - 5:00 p.m.

ICERS will continue to hold all regularly scheduled Board meetings in person and will continue to follow applicable noticing requirements. You are strongly encouraged to listen to the live audio and video stream of the ICERS Board of Retirement meetings at: http://imperial.granicus.com/ViewPublisher.php?view_id=2. Should you wish to provide public comment on a specific item on the agenda and/or general public comment, please submit your comment via email to the Clerk of the Board at ICERS@co.imperial.ca.us no later than 2:00 p.m. on the Tuesday prior to the Board meeting. As an alternative, you may also join in on the Board of Retirement’s Zoom meeting: https://zoom.us/join; Meeting ID: 851 1883 7858; Passcode: 745001

In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this public meeting, you should contact the office of the Imperial County Employees' Retirement System ("ICERS") at (442) 265-7550. Notification at least 48 hours prior to the meeting will enable ICERS to make reasonable accommodations, modifications, or arrangements to assure accessibility to this public meeting.

BOARD MEMBERS (by seat):

1.

Suzanne Bermudez, Imperial County Treasurer/Tax Collector

2.

Patricia Lizarraga, General Member

3.

Mario Salinas, General Member

4.

Luis A. Plancarte, County Supervisor

5.

Norma K. Jauregui, Appointed Member, Chair

6.

Jose Landeros, Appointed Member, Secretary

7.

Carl L. Armstrong III, Safety Member, Vice Chair

8.

David H. Prince, Retiree Member

A.

Items pulled from the Action Calendar.

9.

VACANT, Appointed Member

10.

Jennifer Benavidez, Alternate Safety Member

11.

AJ Gaddis, Alternate Retiree Member

OPEN SESSION

1.

Open Session / Call to Order:

A.

Roll Call

B.