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Pension Fund Overview

The Investment Management Division manages assets of the Teachers’ and State Employees’ Retirement System, the Consolidated Judicial Retirement System, the Firemen’s and Rescue Workers’ Pension Fund, the Local Governmental Employees’ Retirement System, the Legislative Retirement System, and the North Carolina National Guard Pension Fund.

Asset Classes

Portfolio Investment Mandate Examples
Fixed Income Investment Portfolio ​Long Term Investments ​Investment Grade Corporate Securities, Treasuries, Agencies, and Asset-Backed Securities​​
​Public Equity Investment Portfolio ​Equity Securities ​Exchange Traded Securities Managed by Experienced Equity Investment Professionals
​Real Estate Investment Portfolio ​Real Estate ​Limited partnerships* and Real Estate Investment Trusts Managed by Experienced Real Estate Advisors
​Alternatives Investment Portfolio ​Private Equity ​Limited partnerships* managed by experienced private equity advisors
​Credit Strategies Investment Portfolio ​Credit Oriented Investments ​A diversified mix of credit focused investment vehicles managed by experienced investment advisors
​Inflation Protection Investment Portfolio ​Inflation-Linked Investments ​A diversified mix of inflation-linked investment vehicles managed by experienced investment advisors


* Limited Partnerships are the standard vehicle for investment in private equity and real estate funds with a main purpose of buying interests in investments that, in general, are not publicly traded. 

 The partnership has a General Partner whose responsibilities include making, monitoring and ultimately exiting investments to generate returns on behalf of the investors. The investors are known as Limited Partners.

Investment Policies and Guidelines​​

Archive of Placement Agent Policy Disclosure Letters Submitted by Investment Managers​

Investment Committee Charter

External Investment Manager and Vehicle Selection Policy and Procedures

Placement Agent Policy

Investment Manager Disclosure Form

Placement Agent Disclosure Form

Investment Management Division - Code of Ethics and Conduct

Investment Policy Statement for NC Retirement Systems - November 26, 2012

Supplemental Ethics Policy for State Treasurer, Senior Staff, and Investment Division

Form for Review of Contracts Under N.C.G.S. 114-8.3(b1)

Payday Lending Scrutinized Company List - Q3 2012

Payday Lending Divestment Policy - Enacted July 19, 2012

Iran Divestment Policy - Enacted July 19, 2012

Sudan Scrutinized Company List - Q3 2012

Sudan Divestment Policy - Enacted July 19, 2012​​