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Investment staff reports strong private‑markets distributions and 4.1% Q3 gain for the fund
Summary
Presenters told trustees that private‑markets realizations drove above‑average returns in Q2 and Q3: private equity distributions spiked (post‑Q2 realization returns returned nearly $8M), and the total retirement plan returned 4.1% in Q3, adding roughly $230M in market gains.
Investment staff and external managers briefed the board on private‑markets and third‑quarter performance, saying a combination of realizations and favorable public markets led to a strong quarter for the retirement fund.
Casey of Neuberger Berman described an unusually positive Q2 for private equity driven by realizations and distributions. “In Q2, the distributions for your portfolio were a little…
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