Memorandum

Memorandum  #15: STS/LStar Event

Date: 03/09/2017
Referenced Sources: PERAC Website

PERAC Memo #15, 2017

Table of Contents

To All Retirement Boards:

M E M O R A N D U M

TO: All Retirement Boards

FROM: Joseph E. Connarton, Executive Director

RE: STS/LStar Event

DATE: March 9, 2017

Recently, retirement board members received an invitation to an event at Gillette Stadium regarding a prospective investment.  Please be advised that assets of retirement systems cannot be directly invested in real estate.  Also this event raises a potential violation of PERAC’s Placement Agent Policy (see attached) as the sponsoring entity (STS) does not appear to be registered with the SEC as required.

Some confusion has been created by the assertion in the invitation that the event is somehow sponsored by MACRS.  Please see the attached statement by MACRS President Kathleen Kiely-Becchetti which makes it clear that MACRS is not involved in any such sponsorship.

Thank you for your attention in this matter.

Commission Members

Philip Y Brown, Esq., Chairman
Auditor 
Suzanne M. Bump
Kathleen M. Fallon
Kate Fitzpatrick
James M. Machado
Robert B. McCarthy
Jennifer F. Sullivan

Downloads   for #15: STS/LStar Event

Referenced Sources:

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