City of Phoenix Employees Retirement System

About City of Phoenix Employees Retirement System

City of Phoenix Employees Retirement System is a public pension fund whose investment portfolio was valued at $3.23 billion as of June 30, 2024. It invests in domestic and international equity, fixed-income securities, private equity, real estate, real assets, natural resources, hedge funds, infrastructure, and cash. Returns for the quarter, 1 year, 3 years, 5 years, and 10 years were 0.6%, 7.3%, 2.5%, 6.1%, and 5.7% respectively, against benchmark returns of 2.2%, 10.5%, 3.6%, 7.1%, and 6.7% respectively. On June 30, 2024, the private equity portfolio was valued at over $277.10 million, or 8.6% of the total portfolio, up from $258.75 million on September 30, 2023. It currently sits below the target allocation range of 4% to 14%. Private equity investments include buyouts, diversified private equity, private equity growth expansion, fund of funds, private debt, mezzanine, and venture capital strategies, diversified across geographical locations around the globe. Also as of June 30, 2024, the infrastructure portfolio was valued at $117.37 million and the natural resources portfolio at $69.13 million. The retirement board governs the plan's investments. Mr. Aaron Avila is Chairman of the Retirement Board and of the Charter Amendments, Policies & Procedures Committee, and a Member of the Investment & Legal Review Committee. Meketa Investment Group and RVK act as the L.P. Consultants.

Real estate mandate