North Carolina Retirement Systems

About North Carolina Retirement Systems

North Carolina Retirement System had an investment portfolio valued at $123.04 billion as of June 30, 2024, invested in private equity, real estate, hedge funds, infrastructure, real assets, natural resources, publicly traded equities, fixed income securities, cash and other alternative asset classes. Returns for the quarter, 1 year, 3 years, 5 years and 10 years were 1.2%, 8.2%, 1.9%, 5.6% and 5.5%, against benchmark returns of 1.1%, 8.4%, 2%, 5.9% and 5.4%, respectively. On June 30, 2024, the private equity portfolio stood at $ 6.09 billion, or 5% of the total portfolio. That is down from December 31, 2023, when it was valued at $6.2 billion. Private equity holdings include buyouts, co-investments, distressed debt, mezzanine, debt, private growth equity and venture capital fund strategies. As of December 31, 2023, private equity returns for the quarter, 1 year, 3 years, 5 years and 10 years were 1.2%, 4.1%, 3.8%, 12.7% and 11.5%, against benchmark returns of 1.5%, 5.2%, 6.1%, 11.5% and 10%, respectively. The executive management team and the investment advisory committee govern the system's investments. Mr. Dale Folwell is Chairman, TSERS and LGERS. Aon Hewitt Investment Consulting, GCM Grosvenor, Mercer and Strategic Investment Solutions act as LP Consultants.

Real estate mandate