Reports Blog

September 2025 Public Pension Brief

Written by Dakota | Oct 1, 2025 4:03:21 PM

Highlights From September:

  • New Hampshire Retirement System committed $100M each to J.P. Morgan Infrastructure Investments Fund (core private infrastructure) and ICG Europe Fund IX (mezzanine private credit). The Board also extended contracts with AllianceBernstein and Thompson, Siegel & Walmsley through August 2026 for SMID cap equity.

  • Cook County Annuity and Benefit Fund approved a transition of $598M in large cap value equities to Great Lakes Advisors, ending its previous strategic large cap value allocation.

  • Oregon Public Employees Retirement Fund reviewed its fixed income structure, noting an underweight to the asset class (18.1% vs. 25% target). The Board plans to reassess core bond mandates and analytics.

  • Illinois Municipal Retirement Fund made five commitments totaling $270M across private real estate and private equity: Lena Specialty Grocer Fund III, Newport Capital Partners Fund IV, Artemis Real Estate Healthcare Fund III, TA Realty Value-Add Fund XIV, and Chicago Pacific Founders IV.

  • Oklahoma Municipal Retirement Fund committed $12.5M to Warburg Pincus Global Growth 15 and $7.5M to TrueBridge Secondaries II, both in the private equity space.

  • City of Fresno Retirement Systems held reviews with international equity managers Baillie Gifford and Principal Global Equities as part of its ongoing manager evaluation process.

  • San Bernardino County Employees’ Retirement Association terminated PGIM Fixed Income from its emerging markets debt allocation.

  • Medford Contributory Retirement System selected Rhumbline as its new S&P 400 Mid Cap manager for an $8M mandate, opting against an ETF offering from SSGA.

  • City of Marlborough Retirement System reaffirmed its passive indexing strategy by approving continued use of Rhumbline and SSGA as passive index managers.

  • Town of Plymouth Retirement System will not move forward with Wellington’s Multi-Asset Strategy following the strategy’s closure due to asset declines after client redemptions.