U.S. public pension funds earn 10-year median return of 15.2% from private equity

Private equity produced a median annualized return of 15.2% over 10 years for U.S. public pension funds, according to a report by the American Investment Council, a private equity manager trade group.

The AIC report examines the private equity investments of 200 U.S. public pension funds for the years December 2021 to December 2023, with most dates as of June 30, 2023.

The U.S. public pension fund earning the highest private equity return was the $6.4 billion Vermont State Retirement Systems, with an annualized 20.5% over 10 years, the AIC report said.

The Illinois State Board of Investment, which oversees the investment management of about $24 billion in combined assets, had the next best private equity return with an annualized 18.83% over 10 years, followed by $8.6 billion New York City Board of Education Retirement System with an annualized 18.81% private equity return over 10 years.

 

 

 

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