Community Investment Trust - Board of Trustees - April 29, 2026 (audio only)

The City of Murfreesboro Community Investment Trust Board of Trustees held a meeting on April 29, 2026, primarily focused on budget approval and investment portfolio review. The board approved the budget for the upcoming year, which included no new line items but adjustments in funding needs and administrative expenses. They discussed ongoing contracts such as the Fondant software and grant funding renewals. The investment review, presented by Marquette representatives, covered portfolio performance, market conditions, and detailed private equity and private credit allocations. The board approved a $3 million commitment to a new private equity fund (RCP) as part of a strategic move toward more illiquid investments, while maintaining liquidity through evergreen funds. Additionally, the board voted to update the investment policy language to replace "private equity" with the broader term "private assets." The meeting concluded with plans to schedule a future update in the fall and no other procurement actions were taken.