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Charlotte Firefighters' Retirement System
The Charlotte Firefighters' Retirement System was created in 1947. It covers more than 1,900 active and retired uniformed firefighters plus beneficiaries.
Charlotte Firefighters' Retirement System
The Charlotte Firefighters' Retirement System was created in 1947. It covers more than 1,900 active and retired uniformed firefighters plus beneficiaries. The system operates with a three-person staff and maintains its headquarters in Charlotte. Assets are deployed in core and opportunistic real estate funds, private equity fund-of-funds, and public equity and fixed income mandates. Confirmed holdings include DWS RREEF America II Fund, LaSalle US Property Fund, IDR Core Property Index Fund, Abbott Capital Management, Pathway Capital Management, and Siguler Guff Small Business Credit Opportunity Fund III. Additional public positions are managed by Lazard Asset Management, T. Rowe Price, MFS Investment Management, Boston Partners, and Goldman Sachs Asset Management. Allocations span the United States and international equity markets. The system maintains relationships with the City of Charlotte as sponsoring municipality. It participates in NCPERS and TEDS networks. Service providers include Callan LLC as investment advisor and US Bank as custodian. An Investment Committee meeting in July 2025 reviewed core real estate managers and added DWS and LaSalle. Governance rests with a Board of Trustees that includes city officials. Investment decisions follow a defined policy with a 7 percent target return and five-to-ten-year horizons. The structure separates plan administration from the city's operating budget.
General information
Firm type
Pension Fund
Year founded
1947
Location
Region
North America
Country
United States
City
Charlotte
Corporate office
428 East Fourth Street, Suite 205, Charlotte, NC 28202-2434, United States
Principals
Vanessa Heffron
Chair of the Board of Trustees
John Carr
Vice Chair of the Board and Chair of the Investment Committee
Matthew Hastedt
Treasurer of the Board and City Treasurer
Sheila Simpson
Board Member and City Human Resources Director
Sector focus
Frequently asked questions
Who runs investment decisions at Charlotte Firefighters' Retirement System?
John Carr serves as Chair of the Investment Committee. The committee reviews managers and asset allocation at regular meetings. Callan LLC acts as external investment advisor.
Does Charlotte Firefighters' Retirement System participate in fund commitments or only direct deals?
The system commits to commingled funds and fund-of-funds vehicles. Holdings include LaSalle US Property Fund, DWS RREEF America II Fund, and Abbott Capital Management. No direct company ownership appears in records.
What investment stages does Charlotte Firefighters' Retirement System typically target?
The system targets core and opportunistic real estate funds plus private equity and credit strategies. Ticket sizes range from $25 million to $40 million. Investment horizons run five to ten years.
How is Charlotte Firefighters' Retirement System related to the City of Charlotte?
The City of Charlotte acts as the sponsoring municipality. The board includes the City Treasurer and City Human Resources Director. The plan remains legally separate from city operations.
Where does the underlying capital for Charlotte Firefighters' Retirement System come from?
Contributions come from active firefighters and the City of Charlotte under state statute. The plan pays retirement and disability benefits to participants and beneficiaries. No private family wealth origin applies.
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