PERAC Approval Date |
Regulation Number |
Supplemental Investment Regulation |
| February 25, 2008 | 16.08 | In accordance with Investment Guideline 99-3, the Boston Retirement Board may invest in Lexington Middle Market Investors II, L.P. The Board has been a satisfied investor in Lexington Middle Market Investors’ first fund as well as the two private equity partnerships managed by Lexington Capital Partners. The manager has submitted updated regulatory documents. |
January 18, 2008 |
16.08 |
In accordance with Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in the Sigular Guff Distressed Opportunities Fund III. The Board has been a satisfied investor in the manager’s two previous partnerships. Performance has been favorable and there is no substantive change in the management team or in its strategy. The manager has submitted updated regulatory documents. |
October 29, 2007 |
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The Boston Retirement Board may invest up to 7.5% of its portfolio assets in hedge funds of funds selected through its own competitive processes. This exception from the Commission’s 5% limit is based on the Board’s four-year record of successful investment in hedge fund of funds. All hedge funds of funds selected under this supplementary regulation must comply with PERAC’s guidelines for hedge fund investment. |
October 3, 2007 |
16.08 |
In accordance with Investment Guideline 99-2, the Boston Retirement Board is modifying its real estate management mandate with Urdang Capital Management. Rather than continuing to fund its existing separate account, the Board will initiate investment in the Urdang Value Added Fund II, a commingled fund with the same basic strategy and objective. The new fund will offer greater efficiencies to the Board from both an investment and an administrative viewpoint. |
September 19, 2007 |
16.08 |
The Boston Retirement Board may invest in LaSalle Income & Growth Fund V. The Board has been a satisfied investor in LaSalle Income & Growth Fund III and over half the invested proceeds of that investment have been returned to the Board. There have been no substantive changes in the management team or in fund strategy. The Board has submitted the required regulatory documents. |
June 27, 2007 |
16.08 |
In accordance with Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in Sterling Capital Partners III. The Board has been a satisfied investor in SCP’s two predecessor funds. Performance has been good, the management team is intact, and the strategy is consistent. The Board has submitted the required regulatory documents. |
March 21, 2007 |
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Notwithstanding the provisions of the Public Employee Retirement Administration Commission regulations, the Boston Retirement Board may invest the funds of the Retirement System (the “System”) in the fund known as INVESCO Core Real Estate USA, LLC (the “Fund”), and effective as of the date of the initial investment by the System of any of its assets in the Fund, while the assets of the System are so invested, the assets of the System shall be deemed to include, for purposes of applying the rules set forth in 840 CMR 16.00 et seq. and 17.00 et seq., the System’s interest in the Fund but not any of the underlying assets of the Fund; provided that, at all times, the Fund qualified as a “venture capital operating company” within the meaning of the Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder. |
February 5, 2007 |
16.08 |
In accordance with Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in MPM Asset Management’s MPM BioVentures IV, L.P. The Board has been a satisfied investor in the predecessor fund, MPM BioVentures III, L.P. and has submitted updated regulatory documents pertaining to this investment. |
January 29, 2007 |
16.08 |
In accordance with Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in Westech Investment Advisors’ Venture Lending & Leasing V, LLC. The board has been a satisfied investor in the manager’s two previous partnerships, the management team and strategy remain the same, and the board has submitted the required regulatory documents. |
December 20, 2006 |
16.08 |
In accordance with Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in Blue Point Capital Partners II, L.P. The Board has been a satisfied investor in Blue Point Capital Partners, L.P. and the new fund has the same strategy and management group. The manager has submitted an updated Exemption Application and Disclosure Statement. |
December 4, 2006 |
16.08 |
In accordance with Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in the Standard Life European Strategic Partners Fund 2006. The Board has been a satisfied investor in Standard Life’s first ESP Fund (2000) and the basic strategy as well as the management team are essentially the same. The manager has submitted the required updated regulatory documents. |
April 28, 2006 |
16.08 |
In accordance with Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in Thomas H. Lee Equity Fund VI. The Board has been a satisfied investor in Thomas H. Lee Equity Fund V, as well as two earlier Thomas H. Lee partnerships. |
March 21, 2006 |
16.08 |
In accordance with Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in Audax Mezzanine Fund II, L.P. The Board has been an investor in Audax Mezzanine Fund I, L.P., which has similar strategy and the same management team, and returns have been favorable to date. The manager has submitted the required undated regulatory documents. |
January 27, 2006 |
16.08 |
In accordance with Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in Lexington Capital Partners VI, L.P. The Board has been a satisfied investor in Lexington Capital Partners V and the new fund has the same strategy and management group. The manager has submitted an updated Exemption Application and Disclosure Statement. |
June 14, 2005 |
16.08 |
In accordance with PERAC Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in the Siguler Guff Distressed Opportunities Fund II. The Board has been a satisfied investor in Siguler Guff Distressed Opportunities Fund I, the new fund has essentially the same management team and strategy as the existing one, and the Board has submitted all the required regulatory documents. |
June 14, 2005 |
16.08 |
In accordance with PERAC Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in the Sterling Capital Partners II. The Board has been a satisfied investor in Sterling Capital Partners I, the new fund has essentially the same strategy and management team, and the Board has submitted all the required regulatory documents. |
June 1, 2005 |
16.08 |
In accordance with PERAC Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in Lexington Middle Market Investors, LP. The Board has been a satisfied investor in Lexington Advisors’ predecessor fund, Lexington Capital Ventures V, which has had excellent performance to date. The new fund, focusing on middle market U.S. buyout funds, is more narrowly focused than the previous fund but will be managed by the same investment team under similar strategic investment principles. |
October 27, 2004 |
21.01 |
For the sole purpose of the Boston Retirement Board's investment in Ivy Asset Management's Maplewood Associates, II, LP, the provisions of 840 CMR 21.01(1), 21.01(2), 21.02(3), 21.01(5), and 21.01(6) shall not apply. |
October 27, 2004 |
21.01 |
For the sole purpose of the Boston Retirement Board's investment in Mesirow Avanced Strategies" Absolute Return Fund, the provisions of 840 CMR 21.01(1), 21.01(2), 21.02(3), 21.01(5), and 21.01(6) shall not apply. |
October 27, 2004 |
21.01 |
For the sole purpose of the Boston Retirement Board's investment in Arden Asset Management's Endowment Advisors Fund, the provisions of 840 CMR 21.01(1), 21.01(2), 21.02(3), 21.01(5), and 21.01(6) shall not apply. |
October 12, 2004 |
16.08 |
In accordance with Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in Sanderling Ventures VI. The board has been a satisfied investor in the predecessor fund, Sanderling Ventures V, and the new fund has the same investment strategy and management team as the existing one. |
October 12, 2004 |
16.08 |
In accordance with Investment Guideline 99-3, the Boston Retirement Board is authorized to invest in Prudential Capital Partners II. The board has been a satisfied investor in the predecessor fund, Prudential Capital Partners I, and the new fund has the same investment strategy and management team as the existing one. |
March 8, 2004 |
16.08 |
In accordance with Investment Guideline 99-3, the Boston Retirement Board may invest in Venture Lending & Leasing IV. The Board has been a satisfied investor in the predecessor fund, Venture Lending & Leasing III, and has submitted updated regulatory documents pertaining to this investment. |
March 14, 2003 |
16.08 |
The Boston Retirement Board may commit up to $8,559,510 to the Hearthstone Multi-State Residential Value-Added Fund III. This represents the amount committed to but not yet called in the Board’s investment in the predecessor fund, Hearthstone MS II. The Boston Retirement Board may commit $10,000,000 to the LaSalle Income and Growth Fund III. Funds from this investment will come totally from return of capital from the Board’s investment in the predecessor fund, LaSalle II. |
February 4, 2003 |
16.08 |
In accordance with Investment Guideline 99-3, the Boston Retirement Board may invest in the Vanguard VI Annex Fund, LP. This Annex Fund has recently been opened and is essentially a follow-on investment to the Vanguard VII Fund in which the Boston Retirement Board has been invested since 2000. The Board has had a satisfactory relationship with Vanguard and has submitted the required documentation relative to this new investment. |
March 24, 2000 |
16.08 |
The Boston Retirement Board may invest in the Thomas H. Lee Equity Fund V, L.P. The board has invested in three prior TH Lee partnerships and has submitted the appropriate data and documents in support of this request. |
February 07, 2000 |
16.08 |
In accordance with PERAC Investment Guideline 99-3, the Boston Retirement Board may invest in TH Lee. Putnam Internet Partners, L.P. The board has been a participant in two previous TH Lee Partnerships with very satisfactory returns. The management team for this partnership is the same entity as the previous ones; the name change refers to a corporate reorganization under which Putnam Investments, Inc. now owns 25% of the capital interests. The technology focus of the new partnership will provide diversification to the Board’s private equity investments in that the previous partnerships have focussed on more traditional industries. |