Meketa_CTR057206_Amendment_No._2.pdf

CONTRACT AMENDMENT

Contract No.: CTR057206

Description: Investment Consulting Services: Illiquid Credit & Public Markets Projects, Private Equity, and Real Estate

Contractor: Meketa Investment Group

Contract Amendment No. Two (2)

In accordance with the Uniform Terms and Conditions, Section 5.1 (Amendments) and the Special Terms and Conditions 3.5 (Contract Extensions), the above referenced Contract is hereby amended as follows:

1) The following provision are added to Section B. Investment Project Consulting:

5. Valuation, Monitoring and Compliance Services

5.1 Valuation Policy Development and Analysis

5.1.1 Assist ASRS in developing valuation policies.

5.1.2 Review the valuation policies of external managers of ASRS assets.

5.2 Fee Analysis and Monitoring

5.2.1 Review manager calculations of fees, partnership expenses, and carried interest.

5.2.2 Monitor and confirm compliance of manager calculation of fees, partnership expenses, and carried interest with appropriate documentation.

5.3 Valuation and Fee Analysis Reporting

5.3.1 Provide valuation and fee analysis reports on any of the following types of assets:

5.3.1.1 Commingled fund;

5.3.1.2 Co-investment vehicle;B5.4

5.3.1.3 Direct investment; and

5.3.1.4 Other types of investments as requested by the ASRS.

5.3.2 Provide valuation and fee analysis reports on ASRS partnerships.

5.3.3 Provide annual report communicating findings of compliance with ASRS investment policies.

5.4 Validation and Monitoring of Capital Calls

5.4.1 Monitor, validate, and authenticate capital calls for compliance with appropriate documentation, including communication among ASRS, the sponsor, and relevant parties.

5.5 Provide other valuation, monitoring, reporting and compliance services as may be requested from time to time by the ASRS.

2) Attachment C: Pricing Schedule is amended as follows:

1. Validation and Monitoring of Capital Calls :

a. Private Equity and Private Credit: 5.4 Validation and Monitoring of Capital Calls (B-5.4, C-5.4)

i. Fixed Cost: 45,000 per year or $3,750 per month

ii. Variable Cost: $1,350 per fund per year (or $112.50 per month) and separate account during the investment period and $450 per fund per year (or $37.50 per month) following the investment period.

CONTRACT AMENDMENT

Contract No.: CTR057206

Description: Investment Consulting Services: Illiquid Credit & Public Markets Projects, Private Equity, and Real Estate

Contractor: Meketa Investment Group

Contract Amendment No. Two (2)

b. Real Estate: 5.4 Validation and Monitoring of Capital Calls (D-4.9)

i. Variable Cost: $650 per hour spent on reviewing and approving cash flows. We typically take 30 minutes for each capital call review and approval.

2. Fee Analysis and Monitoring & Valuation and Fee Analysis Reporting (5.2 & 5.3)

a. Fixed Cost: $31,500 per year or ($2,625 per month)

b. Variable Cost: $2,250 annually (or $187.50 per month) per separate account, and $3,150 annually

(or $262.50 per month) per fund.

All other requirements, terms, and conditions remain unchanged.

This Contract Amendment is hereby executed this date by the Arizona State Retirement System.

Contractor hereby acknowledges receipt of the above referenced Contract Amendment. A signed copy must be filed with the ASRS procurement office.

Signature

Athena Elliston

Signature

Name

Chief Procurement Officer

Name

Title Date Title Date

4/17/2023

Lisa Rubin

Managing Principal, Director of Marketing 4/18/2023