Worcester Retirement System

About Worcester Retirement System

Worcester Retirement System's investment portfolio is valued at over $1.35 billion as of March 31, 2024, with investments in domestic and international equity, infrastructure, fixed income, private equity, real estate, hedge funds, and cash. Its return for the quarter, 1 year, 2 years, 5 years, and 10 years were 3.4%, 10.6%, 6.2%, 8.8%, and 7.1%, compared to the benchmark return of 4.5%, 13.2%, 4.0%, 7.5%, and 6.6%, respectively. As of March 31, 2024, the private equity portfolio was valued at over $185.51 million, representing 13.7% of the total portfolio. This is an increase compared to September 30, 2023, when the private equity portfolio was valued at $178.61 million The private equity portfolio is currently overweight compared to the target allocation of 13.7% but it exceeds the target allocation range of 4 to 10%. Investments in private equity include buyouts, fund of funds, mezzanine, private growth equity, and venture capital fund strategies diversified in geographical locations across the United States, Canada, the Americas, and Europe. As of March 31, 2024, the fund's private equity return for the quarter, 1 year, 3 years, and 5 years were 2.0%, 7.0%, 15.5%, and 17.8%, compared to the benchmark return of 11.7%, 24.0%, 7.6%, %, and 13.7%, respectively. As of March 31, 2024, the infrastructure & natural resources portfolio was valued at $90.42 million and $1.76 million respectively. The fund's investments are managed by the board of directors, with Mr. Timothy McGourthy serving as Chief Financial Officer, of the City of Worcester. Meketa Investment Group serves as LP Consultant.