May 26, 2023 Board of Trustees Meeting Highlights

The FPIF Board of Trustees met on May 26, 2023. Highlights of the board meeting included the selection of a private markets consultant and the approval of the fiscal year 2024 budget. 

Private Markets Consultant 

Meketa Investment Group was selected to serve as a private markets consultant to assist FPIF with its long-term target allocation of 31% to private market asset classes. FPIF has target allocations of 10% to private equity, 7% to private debt, 10% to real estate, and 4% to infrastructure. 

FPIF issued a Request for Proposals from firms qualified to provide private market consulting services on February 13, 2023. 

Fiscal Year 2024 Budget

The fiscal year 2024 budget includes a total operations cost of $3,937,771, an increase of $418,452 from the previous year. The increase is largely due to the selection of the private markets consultant and costs associated with the audit of Article 4 pension funds.   

Next Meeting of the Board of Trustees

The next meeting of the FPIF Board of Trustees is scheduled for August 25, 2023 at 9:00 am.