The Iowa Public Employees’ Retirement System (IPERS) has approved hiring firms to manage various strategies within the pension fund’s $45.2 billion portfolio. This comes on the heels of IPERS’ return of 19 percent in calendar year 2021, outperforming its benchmark of 18.4 percent.
The board has greenlit 11 firms to manage the sub-strategies of the real assets portion of IPERS’ private credit portfolio, following the board’s decision in September 2020 to increase the private credit target allocation from 3 percent to 8 percent.
Since 2020, IPERS has issued two RFPs to select asset managers for the private credit portfolio. These hirings are in response to the second RFP, which was issued in July 2021.
“In late 2020, the Investment Board directed IPERS staff to implement an ambitious allocation plan,” said Greg Samorajski, CEO of IPERS. “Since then, we’ve worked diligently to strategically acquire the resources necessary to implement this plan an
