City process this is a fiduciary board with an obligation to the board and funds so a point rigid point system may truant officer with the experience of discretion by the board as a fiduciary by picking the best firms for the system. I see okay. The other two classes is the lgbt seniors or a veterans i understand thats the system that sets up to exclude people as well maybe we can move this on. It has been moved. I want to address some of the progress theres been several Board Members that think this is the case in terms of not xhoud the pc a i think there is an inherent bias they recommended this position the other issue i think theres going to be in inherit questioning of why we include someplace not hunt this has not references from public be pension fund no references from the pension fund and excludes someplace that a superb i think that that might be preserved the references are important if i were in mondays be shoes especially labor id like look at the references the endorsemen
Recommendation. Is there a second questions. Does the motion include the site visits okay second. On site Due Diligence which i building is a new part of the process. And reference checking. I ask we accept staffs represents. Is there a second. Second. Ill vote against i for the reasons ive stated. When we come up with the four would you walk me through 1 through 6 and see where they fit in the scoring. We kaunt cant. Well, we have in the past. In a public meeting. Yes. It was shared that they were very close or that the cut off point came because theres a gig eir big differential thats how we arrived before so id like staff to giving me some type of cardboard how we came up with 4 thats not a magic number in the rfp that helped so is he craft a figure of 4 how did we arrive at that. Ill turn to ms. Porter. The more information thats disclosed obviously the fact that the next steps of the evaluation process theres no hard legal rule around this this is a matter of bits judgment for sta
Classes is the lgbt seniors or a veterans i understand thats the system that sets up to exclude people as well maybe we can move this on. It has been moved. I want to address some of the progress theres been several Board Members that think this is the case in terms of not xhoud the pc a i think there is an inherent bias they recommended this position the other issue i think theres going to be in inherit questioning of why we include someplace not hunt this has not references from public be pension fund no references from the pension fund and excludes someplace that a superb i think that that might be preserved the references are important if i were in mondays be shoes especially labor id like look at the references the endorsement and references and re789sdz are very, very important part so i believe that there might be the perception it might be bias because of hedge fund any candidates would say where why are you including someone and someone he will that as a inessential is reputat
Relationships within themselves. Lafco demonstrated it better in the engineering their portfolio than others we feel that my name is went through the same cycles through the 2004 they sold all the assets and 2007 fund a tough time to start a fund theyre doing well. I find the 2007 fund they still put in a lot of the money fast when you look at 2006 or you know or right around there thats when we put it in quicker or 2005 i just seen the worse of the worse so ive gone through each one as you said they were the bank and they couldnt even get the loan from the bank so long as were not loading up what good many and the nordic system is if you recall over the last couple of years weve emphasized managers that are 55 and 50 actual under that in many cases it is depending on the market we do take into account we get comfort that my name is. My name is will recognize that how theyve used the leverage in the most recent fund gone to the protection textbook d only the rate of 64 against an l t v
A Million Dollars commitment but we want to give them the flexibility to execute their strategies under all circumstances. Id like to entertain a motion of staffs recommendation and ill make the motion. Ill open up for. Any questions or comments by the commission seeing none all in favor, say i. I. Passes unanimously thank you very much again back and call item number 6 our minded certain item for 2 oclock. Thank you, norman and bob and eunice is going to join me as well a couple of things that is a recommendation to make a change and to hire an mp c as our Investment Consultant is on page 2 n pc is hundred and 80 million in consulting assets nearly 500 billion in the intention consulting it is a significant commitment to the public plans it is a entirely internally opposed and gifted within its ownership more than thirty partners and no partner owns anymore 22 percent the capabilities of the firm nearly 2 hundred of the employees is investment professionals and have a significant inve