Municipal Employees' Retirement System of Michigan

About Municipal Employees' Retirement System of Michigan

Municipal Employees Retirement System of Michigan's investment portfolio is valued at $14.34 billion, as of June 30, 2024, with investments in publicly traded equities, fixed-income securities, real estate, infrastructure, hedge funds, real assets, natural resources, private equity, and cash. Its returns for the quarter, 1 year, 3 years, 5 years, 7 years, and 10 years were 0.92%, 10.19%, 2.84%, 7.41%, 6.85%, and 6.42%, compared to the benchmark return of 1.45%, 13.06%, 2.23%, 7.19%, 7.30%, and 5.95%, respectively. As of June 30, 2024, the private equity portfolio was valued at $981.93 million, representing 6.8% of the total portfolio. This is a decrease compared to December 31, 2023, when the private equity portfolio was valued at $998.6 billion. As of June 30, 2024, the fund's private equity return for the quarter, 1 year, 3 years, 5 years, 7 years, and 10 years were 3.47%, 3.93%, 11.57%, 17.91%, 17.04%, and 14.32%, compared to the benchmark return of -2.54%, 9.03%, -2.80%, 5.72%, 5.44%, and 5.82%, respectively. Investments in private equity include buyouts, diversified private equity, private equity growth expansion, and venture capital fund strategies diversified in geographical locations across the globe. As of June 30, 2024, the real assets and infrastructure portfolio were valued at $1.79 billion and $399.95 million, respectively. The plan's investments are governed by the executive management team, with Mr. Jeb Burns serving as Chief Investment Officer. Townsend Group, PricewaterhouseCoopers Legal, NEPC, MSCI, & Backstop (Business/Productivity Software) serve as the LP Consultants.