Marin County Employees Retirement Association

As a subsidiary of the New York City Transit Authority, the Manhattan and Bronx Surface Transit Operating Authority (MaBSTOA) was created in 1962 to take over bus services for the bankrupt Fifth Avenue Coach Company and Surface Transit, Inc.'s routes. The firm currently has about 20% of its total assets invested in alternatives including funds of hedge funds and private equity funds. The firm works with New England Pension Consultants for assistance with manager searches and due diligence. NYCT currently has 4 fund of hedge fund commitments as well as investments in mezzanine debt and distressed debt private equity funds. In the future, the firm may be looking to invest in the secondaries market but they will be relying on NEPC for guidance with this search. �