Missouri Department of Transportation and Highway Patrol Employees' Retirement System

About Missouri Department of Transportation and Highway Patrol Employees' Retirement System

Missouri Department of Transportation and Highway Patrol Employees' Retirement Systems investment portfolio is valued at $3.26 billion as of June 30, 2023, with investments in publicly-traded equities, fixed-income securities, agriculture, natural resources, private equity, oil and gas, real estate, metal and mining, timber, real assets, hedge funds, infrastructure, cash, and alternatives. As of June 30, 2023, the fund's return for 1 year, 3 years, 5 years, 10 years, and 20 years was 8.88%, 13.97%, 9.50, 9.27%, and 8.32%, compared to the benchmark return of 6.43%, 7.92%, 7.30%, 7.62%, and 7.46%, respectively. As of June 30, 2023, the private equity portfolio was valued at $790.50 million, representing 24.2% of the total portfolio. This is an increase compared to June 30, 2022, when the private equity was valued at $493.79 million. The private equity portfolio is currently overweight compared to the target allocation of 10%. Investments in private equity include buyouts, debt, venture capital, co-investments, fund of funds, mezzanine, private equity growth expansion, secondaries, direct lending, and distressed debt fund strategies diversified in geographical locations across the globe. The fund is open to any first-time fund investments. As of June 30, 2023, the real assets portfolio was valued at $460.82 million. The plan's investments are governed by the board of trustees, with Ms. Jennifer Johnson serving as Investment Manager & Manager of Hedge Funds, and Private Equity. NEPC serves as the LP Consultant.