The Milwaukee County Employees’ Retirement System provides retirement and disability benefits to employees of Milwaukee County, Wisconsin. With approximately $3 billion in total assets, the system serves county employees across various departments and agencies.
Investment Strategy
The Milwaukee County ERS maintains a diversified portfolio across public equities, fixed income, private equity, real estate, and other alternatives. The Pension Board sets investment policy and asset allocation targets with input from external investment consultants.
The alternatives program is relatively modest given the fund’s size but includes exposure to private equity and real estate through commingled funds. The fund focuses on established managers with proven track records and institutional-quality operations. Portfolio construction emphasizes diversification across vintage years and strategies.
How to Approach
Fund managers should contact the Milwaukee County ERS or engage through the fund’s investment consultant. Given the smaller asset base, the fund makes focused commitments and values managers who offer high-touch service to smaller LPs. GPs should present a clear strategy overview, audited track record, and evidence of operational best practices.
Frequently Asked Questions
What is Milwaukee County ERS's alternatives allocation?
Milwaukee County ERS allocates approximately 12% of its $3 billion portfolio to alternatives including private equity and real estate. Given its smaller scale, the fund takes a focused approach to alternatives with a modest number of manager relationships.
How does Milwaukee County ERS select managers?
The fund works with an investment consultant to identify and evaluate managers. The Pension Board approves all investment commitments. Selection criteria include track record, team quality, strategy fit, and reasonable fee structures.
How can GPs approach Milwaukee County ERS?
GPs should contact the Milwaukee County ERS or their investment consultant. Given the fund's $3 billion scale, commitment sizes are typically in the $10 million to $30 million range. The fund values established managers with strong institutional operations.
