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March 25, 2026

State of Michigan Investment Board Meeting

March 25, 2026

Agenda

  1. 9:30 a.m. Call to Order and Opening Remarks
  2. 9:35 a.m. Approval of the 12/17/25 SMIB Meeting Minutes
  3. 9:40 a.m. Executive Summary & Performance for Periods Ending 12/31/25
  4. 9:50 a.m. Venture Capital Division Update
  5. 10:00 a.m. Guest Speaker:
    1. Jim Adox, Executive Managing Director of Venture Investors Health Fund
  6. 10:30 a.m. Real Estate and Infrastructure Division Update
  7. 10:35 a.m. Guest Speaker:
    1. Daryl Carter, Chairman and CEO of Avanath Capital
  8. Review of Investment Reports
    1. Real Estate & Infrastructure – Update
    2. Private Equity – Update
    3. Real Return & Opportunistic – Receive and File
    4. Defined Contribution – Receive and File
    5. Fixed Income – Receive and File
    6. International Equity – Receive and File
    7. Domestic Equity – Receive and File
    8. Absolute Return – Receive and File
  9. 10:55 a.m. Public Comment
  10. 11:00 a.m. Closing Remarks ~ Adjournment

2026 Meeting Schedule

  1. Wednesday, June 24, 2026
  2. Wednesday, September 23, 2026
  3. Wednesday, December 16, 2026

All meetings start at 9:30 a.m.