# F.E. (Bo) Brister IV Senior Vice President, Stephens Capital Management. Office: 111 Center Street, Little Rock, AR 72201-4451. Phone: 501-377-2063 (office), 800-643-9691, 501-747-4022 (cell). Email: [email protected]. Brister is APERS's documented fixed-income consulting contact at Stephens Capital Management. On 5/14/2025 12:24 PM, the day before the APERS IFSC meeting that authorized $25-50 million in Israel Bonds, Carlos Borromeo emailed Brister, Larry Middleton, and Seth Middleton with the single-sentence request: "Bo I will need your fixed income eyes please" with a link to https://israelbonds.com/. Brister replied at 1:59 PM same day: "You bet. / Do we need to discuss?" The thread captured in the APERS R1 production ends there. The production contains no further substantive Stephens analysis, written response, or discussion summary specific to Israel Bonds. The next day (5/15/2025) Brister attended the APERS IFSC meeting in person — but in his capacity as a Stephens Capital Management Private Credit team member, leading the Private Credit discussion alongside HarbourVest (Melissa Cahill, Bill Cole) and Neuberger Berman (Gabe Feghali, Michael Schwartz, Will Proctor). The IFSC packet contains a 7-page Stephens Capital Management "APERS Private Credit Refresher" presentation. Stephens did not present any Israel Bonds analytical material at the meeting; the Israel Bonds agenda item was Brady alone. The "fixed income eyes" request and Brister's "Do we need to discuss?" reply, with no documented follow-up in the production, establish that APERS sought no independent fixed-income analytical work product from Stephens on Israel Bonds before the IFSC vote. Brister received the Israel Bonds website link, agreed to look, asked whether discussion was needed, and the documentary chain ends. Borromeo subsequently forwarded the entire thread to APERS General Counsel Laura Gilson on 5/28/2025 with "Laura here is an email string that I sent to Stephes [sic] re: Israel bonds" — implying the thread is responsive to a FOIA request rather than to an analytical product. The Stephens institutional relationship with APERS is multi-faceted: Stephens Capital Management is a long-standing APERS investment manager (Borromeo's 5/8/2025 IFSC agenda email establishes that "Bo and team Stephens will lead the discussion" on Private Credit). Brister's role spans both adviser-on-emerging-asset-class and short-notice-fixed-income-consultation modes for APERS. ## Evidence > "Bo I will need your fixed income eyes please / https://israelbonds.com/" > Carlos Borromeo to Bo Brister, IB_FOIA_MAY_25_Reviewed.pdf p.2, 5/14/2025 12:24 PM > "You bet. / Do we need to discuss?" > Bo Brister to Carlos Borromeo, IB_FOIA_MAY_25_Reviewed.pdf p.1, 5/14/2025 1:59 PM > "F.E. (Bo) Brister IV / Senior Vice President / Stephens Capital Management / o: 501-377-2063 |800-643-9691 / c: 501-747-4022 / [email protected] / Stephens / 111 Center Street / Little Rock, AR 72201-4451" > Brister email signature, IB_FOIA_MAY_25_Reviewed.pdf p.1, 5/14/2025 ## Cross-References [[carlos-borromeo]] APERS CIO who initiated the 5/14/2025 fixed-income consultation request [[stephens-capital-management]] employer [[apers-israel-bonds-authorization]] [[independent-credit-analysis-gap]] [[callan-analysis-asymmetry]] concept pages [[apers-foia-r1-7-7-25]] source page