City of Ann Arbor Employees' Retirement System

About City of Ann Arbor Employees' Retirement System

City of Ann Arbor Employees' Retirement System's investment portfolio is valued at $633.27 million, as of June 30, 2024, with investments in publicly traded equities, infrastructure, real assets, natural resources, fixed-income securities, direct lending, private equity, hedge funds, real estate, and cash. Its return for the quarter, 1 year, 3 years, 5 years, 7 years, and 10 years were 1.2%, 10.7%, 5.3%, 9.3%, 8.6%, and 7.6%, compared to the benchmark return of 2.4%, 13.6%, 5.0%, 9.3%, 8.7%, and 7.5%, respectively. As of June 30, 2024, the private equity portfolio was valued at $59.76 million, representing 9.4% of the total portfolio. The private equity allocation consists of $18.41 million invested in private debt strategies. This is an increase compared to December 31, 2023, when the private equity portfolio was valued at $57.66 million. The private equity portfolio is currently overweight compared to the target allocation of 14% but is within the target allocation range of 0% to 20%. Investments in private equity include buyouts, diversified private equity, private equity growth expansion, co-investments, fund of funds, private debt, and venture capital strategies spread across the United States and Canada. As of June 30, 2024, the infrastructure & natural resources portfolio was valued at $41.79 million and $17.31 million respectively. The fund's investments are managed by the board of trustees, with Mr. David Monroe serving as Chairman of the Board of Trustees. Meketa Investment Group serves as the LP consultant.