Chair ronen the meeting will come to order. Welcome to the december 7 meeting of the rules committee. I am hillary ronen, rules of the committee. With me are supervisors Catherine Stefani and supervisor victor mar. Mr. Clerk, do you have any announcements . Clerk yes. [inaudible] Clerk Committee members will attend the meeting Via Video Conference and participate in the meeting to the same extent as if they were physically present. Public comment will be available on each item on the agenda. Both channel 26 and sfgovtv. Org are streaming the number across the screen. Comments or opportunitied to speak during the Public Comment are available by phone by calling 4156550001. Again, thats 4156550001. The meeting i. D. Is 1460305414. Again, thats 1460305414. Press pound twice, and when you enter the meeting, you will be in listening mode only. When your item of interest is called, enter star, three to be entered into the queue. Alternatively, you may submit Public Comment by email to me, at
The interest coverage ratio. It is down around 2 versus what it was years before. Meanwhile what we saw the private markets presentation on private equity, we looked at the volt u volume of buyouts. Is that driven by the fact people making loans has changed and is no longer banks with fidc regulations with those that had no regulations is that driving all of this covenant lack of restrictions . So the direct helping space is a comment product. I am going to switch. Direct lending is a comment product. Jelly to the private equity peanut butter. The more dry powder you have. It is the dry powder on the side line. Direct lending caters to that. With the rise in i think the third slide, slide four of the deck, shows the competition for those lending opportunities. In all of these entities making these loans previously for the big banks that had regulations. Thank you. Skipping because there is a Silver Lining in all of this. We are over to the opportunities presented or will be presenting
We are not in a position where some public Pension Plans are paying out 5 . We have a better illiquidity for that. The payoff for that return is on page 19 of the cambridge report. There is a powerful positive cash flow driver when you start in year 2 2022. I wanted to explain the rationale for the strategy. I will turn it over to the board for questions. This is not an action item. Is there Public Comment . I have been coming to meetings over two years and listened to the mum bow jumbo. All of the people are all active money managers. How communevehowhow come there e from vanguards, price. You get more information over the long. I just told you that vanguard, s p 500 in the last 30 years, less than 1 of the s p 500. My recommendation is start inviting passive money managers, and i think your outlook on investing will change. That concludes item nine. Item 10. We are probably going to lose a quorum in 55 minute, we have nine action items pending and five nonaction items pending. I woul
The commissioners and want to for sfgovtv for staffing the meeting madam clerk before announcements were joined by how board clerk and i understand you have some information. Good morning, chair he wanted i appreciate the privilege of floor on the remote system as youre aware the board that amended their rules to end the use of Public Comment testimony for the Board Meeting due to the unanimous individuals that use it for discrimination and the board left one option for ada for accommodations for individuals interested in making that request call the phone number 1 415 6550001 meeting id 2663 634 1600 to raise your hand, press 3 but regards to todays agenda this was originally published last thursday and had the opportunity for remote Public Comment so in consultation with our folks we would like to continue to provide an opportunity for the public despite the rule changes which were scheduling the agenda about b will not contain that same language thank you, want to make sure there wa
Supervisor mandelman welcome back. Thank you for filling for the commissioners and want to for sfgovtv for staffing the meeting madam clerk before announcements were joined by how board clerk and i understand you have some information. Good morning, chair he wanted i appreciate the privilege of floor on the remote system as youre aware the board that amended their rules to end the use of Public Comment testimony for the Board Meeting due to the unanimous individuals that use it for discrimination and the board left one option for ada for accommodations for individuals interested in making that request call the phone number 1 415 6550001 meeting id 2663 634 1600 to raise your hand, press 3 but regards to todays agenda this was originally published last thursday and had the opportunity for remote Public Comment so in consultation with our folks we would like to continue to provide an opportunity for the public despite the rule changes which were scheduling the agenda about b will not con