Houston Municipal Employees' Pension System

About Houston Municipal Employees' Pension System

Houston Municipal Employees Pension System's investments are valued at $4.13 billion as of June 30, 2023, with investments in private equity, real estate, hedge funds, infrastructure, real assets, natural resources, publicly traded equities, fixed-income securities, cash, and other alternative asset classes. As of June 30, 2023, the private equity portfolio was valued at $1.30 billion, representing 31.5% of the total portfolio. This is a decrease compared to June 30, 2022, when the private equity portfolio was valued at $1.2 million. The private equity portfolio is currently overweight compared to the target allocation of 29.5%. Investments in private equity include buyouts, private growth equity, mezzanine, fund of funds, distressed debt, secondaries, and venture capital fund strategies diversified in geographical locations across the globe, excluding Africa. The private equity portfolio uses the S&P 500 +3% as its benchmark. The pension fund had unfunded commitments amounting to $397.58 million as of June 30, 2022. The assets of the pension fund are governed by the executive management team, with Mr. Gregory Brunt serving as Chief Investment Officer. Cliffwater and Wilshire Associates serve as LP Consultants.