Iowa Public Employees' Retirement System

About Iowa Public Employees' Retirement System

Iowa Public Employees' Retirement System's investment portfolio is valued at $43.61 billion as of June 30, 2024, with investments in private equity, real estate, infrastructure, real assets, natural resources, publicly traded equities, and fixed-income securities. Its returns for the 1 year, 3 years, 5 years, and 10 years were 10.45%, 5.51%, 9.40%, and 7.62%, compared to the benchmark return of 10.41%, 5.32%, 9.32%, and 7.64%, respectively. As of December 31, 2023, the private equity portfolio was valued at $223.7 million, representing 0.53% of the total portfolio. Investments in private equity include buyout, co-investment, fund of funds, mezzanine, private growth equity, distressed debt, and venture capital fund strategies diversified in geographical locations across the globe, except in Africa. IPERS currently prefers to invest only in developed countries. The fund is open to any first-time fund investments. In selecting private equity investments, IPERS has the following limitations. The maximum investment in any single direct co-investment shall not exceed $15 million. IPERS' total investment in direct co-investments shall not exceed 10% of the IPERS' private equity/debt portfolio on a cost basis at the time of investment. The public pension fund's investments are governed by the executive management team, with Mr. Sriram Lakshminarayanan serving as Chief Investment Officer. Wilshire Associates is the LP Consultant.