# Blue Cross and Blue Shield of Minnesota Pension Plan

Blue Cross and Blue Shield of Minnesota Pension Plan is a Pension Fund based in Saint Paul, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Saint Paul, United States
- **Region:** North America
- **Address:** Saint Paul, MN, United States
- **Founded:** 1933
- **Assets under management:** Undisclosed
- **Website:** www.bluecrossmn.com
- **LinkedIn:** https://www.linkedin.com/company/blue-cross-and-blue-shield-of-minnesota

## Regulatory record

- **Reports private funds:** No

## About

The Blue Cross and Blue Shield of Minnesota Pension Plan provides retirement, disability, and death benefits to employees of the state's dominant health insurer. It operates as part of Blue Cross and Blue Shield of Minnesota, a nonprofit independent licensee of the Blue Cross and Blue Shield Association, itself held by parent company Stella. Dana Erickson leads both the plan sponsor and Stella as President and CEO. The plan allocates across a mix of public and private markets using external fund commitments. Disclosed relationships span real assets — notably a commitment to the JP Morgan Strategic Property Fund — as well as private credit and hedge fund strategies. International mandates include a commitment to Caygan Capital based in Singapore, alongside absolute-return capital deployed with HBK Capital Management in Dallas and UBP Asset Management in New York. The geographic footprint reaches the United States and Asia. The fund's operational leadership connects to professional treasury networks through treasury executive May Vang. She serves on the board of directors for the Association for Financial Professionals and sits as a board member for the Insurance Women's Investment Network, creating an information-sharing channel with a broad community of corporate practitioners. Unlike a standalone Taft-Hartley or public employee system, the plan's architecture is a single-sponsor corporate defined-benefit pool inside a nonprofit health insurance enterprise. Its governance is bound up with Stella, a holding company structure that separates the insurance operating business from the parent entity — giving the plan's investment function a layer of structural distance from policyholder liabilities.

## Sectors

- Real Estate
- Private Credit
- Hedge Funds

## People

- Dana Erickson — President and CEO of Blue Cross and Blue Shield of Minnesota and Stella
- May Vang — Board of Directors, Association for Financial Professionals; Board member, Insurance Women's Investment Network

## Questions

### How does the plan allocate its capital?

The fund uses a multi-asset approach through external managers. Known commitments cover real estate (JP Morgan Strategic Property Fund), private credit (Caygan Capital), and hedge fund strategies (HBK Capital Management, UBP Asset Management). The geographic reach extends to the United States and Asia.

### Is this a public or private pension plan?

It is a private corporate defined-benefit plan sponsored by Blue Cross and Blue Shield of Minnesota. The sponsor is a nonprofit independent licensee of the Blue Cross and Blue Shield Association, and is owned by parent company Stella.

### What is the relationship between Stella and the pension plan?

Stella is the parent company of Blue Cross and Blue Shield of Minnesota, which sponsors the pension plan. Dana Erickson serves as President and CEO of both Stella and the Blue Cross plan, linking the parent entity directly to the plan's governance.

## Related profiles

- [Blue Cross and Blue Shield of Massachusetts Retirement Income Trust](https://altss.com/profile/blue-cross-and-blue-shield-of-massachusetts-inc-retirement-income-trust)
- [Blue Cross and Blue Shield of Montana](https://altss.com/profile/blue-cross-and-blue-shield-of-montana)

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Source record modified: 2026-06-03T20:00:00.000Z

Last verified: not supplied by this public snapshot.

## Sources and provenance

- Organization website as recorded: https://www.bluecrossmn.com/
Source links do not imply that every field was verified on the page modification date. See [Altss methodology](https://altss.com/methodology).

Canonical page: https://altss.com/profile/blue-cross-and-blue-shield-of-minnesota-pension-plan

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology