The Board of Fire and Police Pension Commissioners ofthe City of Los Angeles met at the LACERS Board Room, located at the Los Angeles Times Building, 202 W. First Street, Suite 500, Los Angeles 90012 on Thursday, June 6,
2013.
COMMISSIONERS PRESENT: Ruben Navarro, Vice President
George Aliano
Sam Diannitto (participated telephonically)
Wayne Moore
Pedram Salimpour
Belinda Vega
Robert von Voigt
COMMISSIONERS ABSENT: Dean Hansell, President
Gregory Lippe
DEPARTMENT OF FIRE AND
POLICE PENSIONS: Raymond P. Ciranna, General Manager
Joseph Salazar, Assistant General Manager
Tom Lopez, Chief Investment Officer
Barbara Nobregas, Commission Executive Assistant
CITY ATTORNEY'S OFFICE: Alan Manning, Assistant City Attorney
Jim Napier, Deputy City Attorney
Diane L. Panicca, U.S. Legal Support COURT REPORTER:
Vice President Navarro called the meeting to order at 8:44 a.m. All ofthe above-listed Commissioners were present at the start of the meeting with the exception of Commissioner Aliano who arrived at 9:42 a.m. Vice President Navarro welcomed Commissioner Pedram Salimpour to the Board.
A. ITEMS FOR BOARD ACTION
1. PROPOSED REAL ESTATE INVESTMENT RECOMMENDATION BY THE TOWNSEND GROUP
AND POSSIBLE BOARD ACTION
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Minutes of the Board of Fire and Police Pension Commissioners
June 6, 2013
Page 2
Ms. Jennifer Young, Consultant from The Townsend Group presented the report and answered the Board's questions.
RESOLUTION 13178
Commissioner Moore moved that the Board approve The Townsend Group's recommendation to invest $60 million in the Clarion Lion Industrial Trust core open-end real estate fund, which motion was seconded by
Commissioner Salimpour and approved by the following vote: ayes, Commissioners Diannitto, Moore,
Perez, Vega, von Voigt, and Vice President Navarro 6; nays, none.
2. REVIEW AND RESTRUCTURE OF COMMODITIES ALLOCATION AND POSSIBLE BOARD
ACTION
Messrs. Tom Lopez, ChiefInvestment Officer (CIO) and Derek Niu, Investment Officer II presented the report.
RESOLUTION 13179
Commissioner Vega moved that the Board:
1. Maintain the 5% commodities allocation target within the overall asset allocation;
2. Restructure the commodities allocation with 60% (2/3 passive, 1/3 active) dedicated to public securities,
20% to private equity funds and 20% to derivative based strategies without the use of hedge funds to lower fees; and,
3. For the passive public equity strategy, adopt the following indices: 1) S&P Global Natural Resources index (60%),2) S&P Global Water Index (20%),3) S&P MLP Index (15%), and 4) Global Timber &
Forestry Index (5%), which motion was seconded by Commissioner von Voigt and approved by the following vote: ayes, Commissioners Moore, Salimpour, Vega, von Voigt, and Vice President Navarro
5; nays, Commissioner Diannitto - 1.
3. PROPOSED RENEWAL OF DARUMA CAPITAL MANAGEMENT, LLC SMALL CAP DOMESTIC
EQUITY MANAGEMENT CONTRACT AND POSSIBLE BOARD ACTION
The board report was approved without discussion.
RESOLUTION l3180
Commissioner Vega moved that the Board:
1. Approve a new three-year contract with Daruma Capital Management, LLC for Small Cap equity advisory services;
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Minutes ofthe Board of Fire and Police Pension Commissioners
June 6,2013
Page 3
2. Authorize the General Manager to review and negotiate the tenns and conditions of a contract with
Daruma Capital Management, LLC for Small Cap equity advisory services for the period ofAugust 1,
2013 through July 31, 2016; and,
3. Authorize the President of the Board, on behalf of the Board, to execute the contract with Daruma
Capital Management, LLC for Small Cap equity advisory services, subject to the approval of the City
Attorney as to form, which motion was seconded by Commissioner von Voigt and approved by the following vote: ayes, Commissioners Diannitto, Moore, Salimpour, Vega, von Voigt, and Vice President
Navarro 6; nays, none.
4. PROPOSED LEGISLATION AND POSSIBLE BOARD ACTION
Mr. Gregory Mack, Senior Management Analyst II, Communications & Special Projects Section was before the Board. General Manager Ciranna stated in regards to legislation and bills, a future recommendation will come before the Board to revise the governance policy to enable staffto provide a position recommendation to the City.
RESOLUTION 13181
Commissioner Vega moved that the Board support Assembly Bill (AB) 382 and direct the General Manager to communicate the Board's endorsement to the Office of the Chief Legislative Analyst (CLA), which motion was seconded by Commissioner von Voigt and approved by the following vote: ayes, Commissioners
Diannitto, Moore, Salimpour, Vega, von Voigt, and Vice President Navarro - 6; nays, none.
5. DISCUSSION OF THE GENERAL MANAGER SALARY AND POSSIBLE BOARD ACTION
Ms. Jenny Mach, Personnel Analyst II, Administrative Services Section presented the repoft.
Commissioner Vega suggested setting the General Manager's salary at the same amount he received at the
Office of the CAO. Commissioner Moore suggested increasing the amount seven percent. Commissioner
Diannitto suggested increasing the amount five percent.
RESOLUTION 13182
Commissioner Vega moved that the Board detennine the General Manager's salary:
1. Be consistent with the same amount he received at the CAO's Office at $219,429.49 annually,
2. Plus five percent (5%),
3. Forgo his cost of living adjustment (COLA) in July 2013, and
4. Review his salary in six months, which motion was seconded by Commissioner Diannitto and approved by the following vote: ayes, Commissioners Diannitto, Moore, Salimpour, Vega, von Voigt, and Vice
President Navarro 6; nays, none.

Minutes of the Board of Fire and Police Pension Commissioners
June 6, 2013
Page 4
B. REPORTS TO THE BOARD
1. PRESENTATION BY FRONTIER CAPITAL MANAGEMENT SMALL CAP EQUITY
Mr. James A. Colgan, Portfolio Manager, from Frontier Capital presented the report and answered the
Board's questions. Mr. Tom Lopez also answered the Board's questions. The report was received and filed.
2. CONTRACTOR DISCLOSURE POLICY QUARTERLY REPORT
Ms. Erin Kenney, Departmental Audit Manager, Internal Audit Section stated she received two ofthe three outstanding disclosures. The report was received and filed.
3. Vice President Navarro asked if any Board Member made any expenditure to influence State legislative or administrative action to which their reply was negative.
4. Miscellaneous correspondence from money managers, consultants, etc. - Received and Filed.
5. General Manager's Report a. Benefits Actions approved by General Manager on May 16, 2013
Pursuant to Resolution 04008, adopted by the Board of Fire & Police Pension Commissioners on
August 7, 2003, the following benefit actions have been approved by the General Manager on May 16,
2013.
DISCONTINUED PENSIONS TIERl 4
George J. Leebolt
Robert D. Sullivan
Betty J. Newman
Verdabelle F. Hooper
Fire Service
Police Disability
Police Widow
Police Widow
DISCONTINUED PENSIONS TIER2-12
Stanley R. Dailey
Frank C. Geyer
E. J. Allensworth
Kenneth W. Booth
Patrick J. Long
Charles R. Marlow
Abraham Weber
Leo Dempsey
Charles S. Parker
Dorothy H. Cadien
Fire Service
Fire Service
Police Service
Police Service
Police Service
Police Service
Police Service
Fire Disability
Fire Disability
Fire Widow
Retired: 07-07-81 Died: 04-12-13
Retired: 07-14-64 Died: 03-19-13
Retired: 01-20-97 Died: 04-07-13
Retired: 03-04-83 Died: 02-19-13
Retired: 07-18-91 Died: 04-19-13
Retired: 07-15-79 Died: 03-19-13
Retired: 02-22-68 Died: 03-08-13
Retired: 01-01-73 Died: 02-17-13
Retired: 09-01-68 Died: 04-16-13
Retired: 12-05-89 Died: 03-29-13
Retired: 06-18-77 Died: 04-23-13
Retired: 03-09-89 Died: 04-15-13
Retired: 06-27-82 Died: 03-30-13
Retired: 09-10-01 Died: 03-01-13

Minutes of the Board of Fire and Police Pension Commissioners
June 6, 2013
Page S
Virginia R. Dill
Betty A. Williams
Police Widow
Police Widow
DISCONTINUED PENSIONS - TIER 3 - 1
Carol J. Posner Police Disability
Retired:
Retired:
06-26-84
01-19-76
Died: 04-11-l3
Died: 09-21-12
Retired: 06-22-01 Died: 03-27-l3
DISCONTINUED PENSIONS TIERS-2
Daniel J. Slagh
Wallace M. Montgomery
Fire Service
Police Service
Retired:
Retired:
02-01-03
07-14-02
Died: 04-19-13
Died: 04-12-13
ELIGIBLE GOINS' WIDOW PENSION TIER 1-1
Name
Carolyn J. Depaoli
Deceased Member
Lewis F. Depaoli
Member's Class
Police Disability
ELIGIBLE SURVIVING SPOUSE'S PENSION - TIER 1 - ]
Effective Date
04-07-13
Effective Date
03-20-13
Name
Sylvia H. Sullivan
Deceased Member
Robert D. Sullivan
Member's Class
Police DisabiHty
ELIGIBLE SURVIVING SPOUSE'S PENSION - TIER 2 3
Name
Doris M. Allensworth
Sherrie D. Marlow
Lorette Weber
Deceased Member
E. J. Allensworth
Charles R. Marlow
Abraham Weber
Member's Class
Police Service
Police Service
Police Service
ELIGIBLE SURVIVING SPOUSE'S PENSION - TIER 5 - 1
Name
Shari D. Slagh
Deceased Member
Daniel J. Slagh
Member's Class
Fire Service
ELIGIBLE DOMESTIC PARTNER'S PENSION TIER 3 1
Name
Marc A. Priore
Deceased Member
Carol J. Posner
Member's Class
Police Disability
ELIGIBLE DOMESTIC PARTNER'S PENSION TIER S-1
Name
Rochelle Saarela
Deceased Member Member's Class
Wallace M. Montgomery Police Service
PARTIAL PAYMENT OF PENSION TIER 2 1
Effective Date
03-09-l3
03-30-l3
04-24-13
Effective Date
04-20-l3
Effective Date
03-28-13
Effective Date
04-13-l3

Minutes of the Board of Fire and Police Pension Commissioners
June 6, 2013
Page 6
In accordance with the City Attorney's advice, a designated proportion ofthe community property interest ofthe pension payable to Frank M. Lucero, Fire Service Pensioner, is to be withheld for his former spouse, Debbie A. Lucero, effective May 1,2013. Ms. Lucero will receive cost of living adjustments.
PARTIAL PAYMENT OF PENSION TIER 5 - 1
In accordance with the City Attorney's advice, a designated proportion ofthe community propelty interest of the pension payable to Kenneth L. Huerta, Harbor Service Pensioner, is to be paid to his former spouse, Donita 1. Ridens, effective April 1,2013. Ms. Ridens will receive cost ofliving adjustments.
MODIFIED PARTIAL PAYMENT OF PENSION - TIER 2 1
In accordance with the City Attorney's advice, a designated proportion of the community property interest of the pension payable to George J. Fernandez, Police Service Pensioner, which was being paid to his former spouse, Marlene Fernandez, is to be reduced to 29.85%, effective May 1,2013.
MODIFIED PARTW.o PAYMENT OF PENSION - TIER 5
In accordance with the City Attorney's advice, a designated proportion ofthe community property interest of the pension payable to Phillip 1. Weireter, Fire Service Pensioner, being withheld for his former spouse, Debra Ann Kopelow-Weireter-LeSueur, since March 1,2013, reverts to Phillip 1.
Weireter effective May 1, 2013.
DISCONTINUE PARTIAL PAYMENT OF PENSION TIER 2 1
In accordance with the City Attorney's advice, the designated proportion ofthe community property interest ofthe pension payable to Donald L. Girt, Police Service Pensioner, which was being paid to his former spouse, Gayle Girt Braun, has been discontinued due to the death of Ms. Girt Braun on
February 1,2013. Ms. Girt Braun's portion reverts to Mr. Girt, effective February 2,2013.
CONSERVATORSHIP TIER 2 1
A certified copy of the Letters of Conservatorship, issued in the Los Angeles Superior Court of
California, Case Number BP 117 818, appointing Patricia RoBerson, Conservator ofthe Person and the Estate of Laura M. Harrison, surviving spouse of deceased Fire Service Pensioner, "Frank
Harrison, effective March 14, 201 3, has been filed with this office.
Pension payments will be paid to Patricia Rollerson for the benefit of Laura M. Harrison, effective
May 1, 2013.
DEFERRED SERVICE PENSION - TIER 5
Fire
Steven R. Hoag Firefighter III Eff: 04-07-13 20 Years 149 Days

Minutes of the Board of Fire and Police Pension Commissioners
June 6, 2013
Page 7
SERVICE PENSION TIER5-1
Police
Susan D. Quan Police Officer II
SERVICE PENSIONIDROP TIER 3 3
Eff: 04-21-13 21 Years 160 Days
Police
Darryl L. Lee
David C. Lott
John T. Roysden
Police Officer II
Detective III
Police Officer 1II
SERVICE PENSIONIDROP - TIER 4 - I
Eff:
Eff:
Eff:
02-01-13
02-01-13
04-01-13
Police
Delaney Jones Sergeant II
SERVICE PENSION/DROP TIER 5 6
Fire
Tobi L. Perkins Fire Captain I
Police
Steven J. Katz
Kristine K. Kenney
Nancy D. Lauer
Harry C. Lee
Lisa R. Turvey
Detective III
Lieutenant II
Police Captain III
Detective II
Sergeant II
DISCONTINUE DROP TIER2-1
Fire
Jon K. Bullock Retired:
DISCONTINUE DROP - TIER 5 12
Fire
Robert P. Melendez
Kevin C. Mulvehill
Ernesto 1. Navarro
Anthony R. Pacheco
Glenn E. Zink
Police
Daniel G. Armand
Thomas P. Brascia
Victor L. Dennis
Michael R. Goldstein
Retired:
Retired:
Retired:
Retired:
Retired:
Retired:
Retired:
Retired:
Retired:
Eff:
Eff:
02-01-13
02-01-13
Eff:
Eff:
Eff:
Eff:
Eff:
02-01-13
02-01-13
01-21-13
02-01-13
02-01-13
05-25-08
06-01-08
06-01-08
05-16-08
04-29-10
06-01-08
02-01-12
05-25-08
08-01-08
02-01-10
27 Years
25 Years
54
16
Days
Days
25 Years 233 Days
26 Years 160 Days
25 Years
26 Years 197 Days
25 Years 7 Days
27 Years 160 Days
25 Years 106 Days
25 Years 96 Days
Exit Close of:
Exit Close of:
Exit Close of:
Exit Close of:
Exit Close of:
Exit Close of:
Exit Close of:
Exit Close of:
Exit Close of:
Exit Close of:
30 Days
05-24-13
05-31-13
05-31-13
05-10-13
05-31-13
05-31-13
05-31-13
05-24-13
05-09-13
05-31-13

Minutes of the Board of Fire and Police Pension Commissioners
June 6, 2013
Page 8
Joseph M. Hiltner
Hipolito Lizarraga
Paul L. Skinner
Retired:
Retired:
Retired:
06-08-08 Exit Close of: 05-31-13
11-01-11 Exit Close of: 05-31-13
05-11-08 Exit Close of: 05-10-13
PARTIAL PAYMENT OF DROP FUNDS TIER 5 2
In accordance with the City Attorney's advice, a designated proportion of the community property interest ofthe DROP funds payable to Joseph M. Hiltner, Police Service Pensioner, is to be paid to his former spouse, Wendy Eagan, effective May 31, 2013.
In accordance with the City Attorney's advice, a designated proportion of the community property interest ofthe DROP funds payable to Hipolito Lizarraga, Police Service Pensioner, is to be paid to his former spouse, Yolanda Michael, effective May 31,2013.
MODIFIED PARTIAL PAYMENT OF DROP FUNDS - TIER 5-1
In accordance with the City Attorney's advice, a designated proportion of the community property interest ofthe DROP funds payable to Phillip J. Weireter, Fire Service Pensioner, being withheld for his former spouse, Debra Ann Kopelow-Weireter-LeSueur, since February 28, 2013, reverts to
Phillip J. Weireter effective May 1,2013.
SERVICE-CONNECTED DISABILITY PENSION - TIER 5 1
Name
Timothy B. Larson
Member's Class
Firefighter III b. Other business relating to Department operations
Percentage
60.0000%
Effective Date Board Date
01-26-06 05-02-13
General Manager Ciranna gave the following updates:
1. He provided an update of Private Equity investments transactions that have closed over the last several months:
On July 19, 2012, and pursuant to Government Code Section 54956.81, the Board approved investment in the following private equity firms:
-Alta Growth Capital Mexico Fund II; that transaction closed on October 2,2012.
-GenNx360 Capital Partners II; that transaction closed on December 21, 2012.
-ICV Partners Ill; that transaction closed on November 16,2012.
On September 20, 2012, and pursuant to Government Code Section 54956.81, the Board approved investments in the following private equity firms:
-Clearlake Capital Partners III; that transaction closed on December 14,2012.

Minutes of the Board of Fire and Police Pension Commissioners
June 6,2013
Page 9
-Apollo Natural Resources Partners; that transaction closed on November 30,2012.
On November 1,2012, and pursuant to Government Code Section 54956.81, the Board approved investments in the following private equity firms:
-Carrick Capital Partners; that transaction closed on November 27,2012.
-Siris Partners II; that transaction closed on November 12, 2012.
-TowerBrook Investors IV; that transaction closed on February 5,2013.
-Encap Energy Capital Fund IX; that transaction closed on December 19, 2012.
On March 7, 2013, and pursuant to Government Code Section 54956.81, the Board approved investments in the following private equity firms:
-Insight Venture Partners VIII; that transaction closed on April 11, 2013.
-Olympus Growth Fund VI; that transaction closed on May 14, 2013.
-Silver Lake Partners IV; that transaction closed on April 1,2013.
On May, 16, 2013, and pursuant to Government Code Section 54956.81, the Board approved investments in the following private equity firms:
-Vista Foundation Fund II; that transaction closed on May 17,2013.
6. City Attorney's Report
Deputy City Attorney Jim Napier provided the details ofa court case that was dismissed related to a member of the System, A. Escobar, a former Police Officer.
C. COMMITTEE REPORTS
]. Audit Committee - Last met: 03/07/13; next meeting: Tentative: 07/03113
2. Benefits Committee - Last met: 02/07/13; next meeting: TBD
3. Governance Committee - Last met: 07/19/12; next meeting: 06/20113
4. Ad Hoc Emerging Investment Managers - Last met: 04/04/13; next meeting: TBD

Minutes of the Board of Fire and Police Pension Commissioners
June 6,2013
Page 10
5. Ad Hoc Managers Fees Committee - Last met: 04/30/13; next meeting: TBD
6. Ad Hoc Space Planning Committee - Discussion held during closed session with property negotiator
7. Ad Hoc Strategic Planning Committee - Last met: 04/04/13; next meeting: TBD
Vice President Navarro asked for the Board and staff's input on scheduling committee meetings and listing them as a future agenda item. He announced the Audit Committee is meeting on July 3, 2013 and the Governance
Committee is meeting on June 20, 2013.
D. CONSENT ITEMS
1. Approval of Minutes a. Minutes of the Regular Board meeting of February 7,2013 b. Minutes ofthe Ad Hoc Strategic Planning Committee of January 17,2013 and Ad Hoc Emerging
Investment managers Committee of February 7, 2013
2. Findings of Fact a. Timothy Larson - Tier 5 b. Valentin Reyes Tier 3
Commissioner von Voigt moved to approve the consent items, which motion was seconded by
Commissioner Moore and approved by the following vote: ayes, Commissioners Diannitto, Moore,
Salimpour, Vega, von Voigt, and Vice President Navarro - 6; nays, none.
E. CONSIDERATION OF FUTURE AGENDA ITEMS
There were no future referrals.
F. PUBLIC COMMENTS
Mr. Charles Hill gave a public comment.
Commissioner Vega suggested that Mr. Hill's two letters be distributed to the Board and if the Board so chooses to place it as a future agenda item.
The Board took a breakfrom 9:39 a.m. and reconvened at 9:46 a.m.
Commissioner Aliano arrived to the meeting.
Item HI was taken out oforder.

Minutes ofthe Board of Fire and Police Pension Commissioners
June 6, 2013
Page 11
Deputy City Attorney Jim Napier took the City Attorney chair.
H. CLOSED SESSION ITEMS FOR POSSIBLE BOARD ACTION
L CLOSED SESSION PURSUANT TO GOVERNMENT CODE SECTION 54956.8 TO CONFER WITH
REAL PROPERTY NEGOTIATOR; Properties: 330 East 2nd Street, 464 & 470 East 3 rd
Street, 701 East
3rd Street, 330 South Alameda Street, 333 South Alameda Street, 400-420 Boyd Street, 244 South San
Pedro Street, 360 East Second Street; Negotiators: David Weiner, Martin Cawley, Tom Lopez, Erika Tiedge;
Negotiating parties: Sentinel Real Estate Corporation and LAFPP; Under negotiation: Instruction to negotiator will concern price
Upon reconvening in open session, Vice President Navarro stated there was no public report.
G. DISABILITY CASES
DISABILITY CLAIM NEW - TIER 4
Robert Yanez (P) Police Officer II (Terminated)
Hearing continued at the request of the Board. Motion made by Commissioner Navarro, seconded by
Commissioner von Voigt and adopted by the following vote: ayes, Commissioners Aliano, Diannitto, Moore,
Salimpour, Vega, von Voigt, and Vice President Navarro - 7; nays, none. Mr. Yanez was not present but was represented by his attorney 1bomas J. Wicke.
DISABILITY CLAIM - NEW - TIER 5 - 2
Gerardo Montiel (P)
Conservator of Police Officer II Fabian Montiel
Police Officer II
As recommended by staff and concurred in by the applicant, nonservice-connected disability pension is granted at 50% with no foreseeable purpose for review. Motion made by Commissioner Vega, seconded by
Commissioner von Voigt and adopted by the following vote: ayes, Commissioners Aliano, Diannitto, Moore,
Salimpour, Vega, von Voigt, and Vice President Navarro 7; nays, none. Mr. Montiel was not present nor was he represented.
Guadalupe G. Flores (F) Firefighter IWParamedic (Retired)
Prior Board Action of October 20, 2011 granting a service pension at 72.2329% is rescinded and a service­ connected disability pension of60% with no foreseeable purpose for review is granted, but any further action be deferred pending the exercise of the option to remain on a service pension. Motion made by Commissioner
Aliano, seconded by Commissioner Navarro and adopted by the following vote: ayes, Commissioners Aliano,

Minutes of the Board of Fire and Police Pension Commissioners
June 6, 2013
Page 12
Diannitto, Salimpour(abstained), von Voigt, and Vice President Navarro 5; nays, Commissioners Moore and
Vega 2. (Origina] motion to grant a non service-connected disability pension of 50% with no foreseeable purpose fOf review, but any further action be deferred pending the exercise ofthe option to remain on a service pension was made by Commissioner Moore, seconded by Commissioner Vega and failed by the following vote: ayes, Commissioners Moore, Salimpouf, and Vega - 3; nays, Commissioners Aliano, Diannitto, von Voigt and
Vice President Navarro 4. Firefighter Flores was present and represented by his attorney Thomas J. Wicke.
The meeting adjoupfied at 10:56 a.m>+,_
President