Worcester Retirement System

About Worcester Retirement System

Worcester Retirement System is a public pension fund whose investment portfolio exceeded $1.35 billion at March 31, 2024. Holdings span domestic and international equity, infrastructure, fixed income, private equity, real estate, hedge funds and cash. Quarterly, 1-year, 2-year, 5-year and 10-year returns were 3.4%, 10.6%, 6.2%, 8.8% and 7.1%, against benchmark returns of 4.5%, 13.2%, 4.0%, 7.5% and 6.6% respectively. Private equity holdings stood at more than $185.51 million on March 31, 2024, equal to 13.7% of the overall portfolio, up from $178.61 million on September 30, 2023. The allocation is currently overweight against the 13.7% target, and it exceeds the target range of 4 to 10%. Private equity investments include buyouts, fund of funds, mezzanine, private growth equity and venture capital fund strategies, diversified geographically across the United States, Canada, the Americas and Europe. Private equity returns at that date were 2.0% for the quarter, 7.0% over 1 year, 15.5% over 3 years and 17.8% over 5 years, compared with benchmark returns of 11.7%, 24.0%, 7.6% and 13.7% respectively. At the same date, the infrastructure & natural resources portfolio was valued at $90.42 million and $1.76 million respectively. The board of directors manages the fund's investments, and Mr. Timothy McGourthy is Chief Financial Officer of the City of Worcester. Meketa Investment Group is the LP Consultant.

Real estate mandate

Contacts at Worcester Retirement System