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Illinois State Board Of Investment Enjoys Strongest Performing Private Equity Portfolio

Private markets trade body the American Investment Council released its annual Public Pension Study today, showing that private equity outperformed public equity, real estate and fixed income, delivering gains of +13.7% - based on 10-year annualised returns - according to the study.

The Illinois State Board of Investment enjoyed the best return of the public pension funds analysed, with its private equity program delivering +16.7% net of fees for its 165,000 members. The rest of the top 10 are Massachussetts Pension Reserves Investment Trust, Iowa Public Schools Employees Retirement System, Public Schools and Education Employee Retirement Systems of Missouri, Minnesota State Board of Investment, Kentucky Retirement System Insurance Fund, San Francisco Employees Retirement System, Public Safety Personnel Retirement System of Arizona, Ohio School Employees Retirement System and State of Michigan Retirement Systems. Each program delivered more than 15% net of fees annualised over the past 10 years,

Mass PRIM’s private equity program has performed extremely well over the long term for our beneficiaries who count on us to deliver strong investment returns,” said Michael G. Trotsky, CFA, Executive Director and Chief Investment Officer of Mass PRIM. “We are very pleased that since AIC began this study in 2012, Mass PRIM has consistently ranked in the top five, reinforcing the importance of our private equity portfolio to our overall performance. Partnering with the industry’s top investment managers allows us to gain exposure to companies that have the potential to provide strong long-term returns.”

Drew Maloney, President and CEO of The American Investment Council, said:   

Public pensions represent a basic promise and a sacred trust to our essential government workers. Even as they themselves face personal hardships and uncertainties, civil servants continue to provide vital services during these unsettling times. Private equity plays an important role in making sure we keep our promises to public employees, providing long-term retirement security by delivering strong returns for public pensions year after year.”


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