Pension Funds
Public and corporate pension plans invest to pay the retirement benefits of their members. They decide through a formal process that a manager needs to understand before the first meeting.
Texas Municipal Retirement System
US$40B
North Dakota Retirement and Investment Office
US$20B
Pension assets directed at HSBC North America
US$7B+
Note: Career figures of David Hunter, Senior Advisor, from his earlier roles. They are not transactions of Inaya Advisory.
Who the capital serves
A pension fund invests for members at work and in retirement.
A firefighter who joins a plan this year will draw on it decades from now. That horizon is why pension funds can commit to a private fund for ten years or more, and why they ask so much before they do.
Approved in stages
The board sets a target for private markets, staff run diligence, a consultant often recommends, and the board approves the commitment.
The same questions
Fit with the allocation, who made the returns, what the manager commits, and whether reporting meets the standard a public plan must keep.