# Chester County Employees Retirement Fund

Chester County Employees Retirement Fund is a Pension Fund based in West Chester, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** West Chester, United States
- **Region:** North America
- **Address:** West Chester, PA, United States
- **Assets under management:** Undisclosed
- **Website:** chesco.org

## Regulatory record

- **Reports private funds:** No

## About

Chester County Employees Retirement Fund operates as the pension system for the public employees of Chester County, Pennsylvania, based in West Chester. The plan is overseen by a retirement board comprising county officials — including Commissioners Marian D. Moskowitz, Josh Maxwell, and Michelle Kichline, Controller Margaret Reif, and Treasurer Patricia Maisano. Unlike state-level systems, CCERF functions at the county scale, serving a concentrated base of municipal and county retirees. CCERF's investment strategy centers on buyout-oriented allocations, reflecting a preference for control-equity and private markets exposure. In a notable departure from passive public-equity-only pension portfolios, the fund co-sponsored Venture Chesco — a co-investment initiative designed to direct institutional capital into early-stage and growth companies within Chester County. The program partners with Ben Franklin Technology Partners of Southeastern Pennsylvania, a state-backed economic development investor, to identify and back local ventures. This hybrid approach blends traditional pension fiduciary mandates with place-based economic development. The fund's public disclosures are limited — no AUM, team size, or detailed portfolio holdings are published centrally. Governance rests with the Retirement Board, a structure common among county-level plans where elected and appointed officials serve as fiduciaries. The board's membership spans executive and financial oversight roles within county government, embedding pension governance into the county's broader administrative framework. Structurally, CCERF distinguishes itself through the Venture Chesco program, which is atypical for a county pension fund. Most local government plans allocate solely to external managers or commingled funds; CCERF's direct co-investment posture through a named economic-development partner creates a mandate that is simultaneously fiduciary and community-development-focused. This dual purpose — retirement security and local ecosystem building — is rare in the US public pension landscape.

## Sectors

- Buyout

## People

- Marian D. Moskowitz — Chair of the Retirement Board; County Commissioner
- Josh Maxwell — Member of the Retirement Board; County Commissioner
- Michelle Kichline — Member of the Retirement Board; County Commissioner
- Margaret Reif — Member of the Retirement Board; County Controller
- Patricia Maisano — Member of the Retirement Board; County Treasurer

## Questions

### How is Venture Chesco structured, and what does the fund invest in through it?

Venture Chesco is a co-investment initiative launched by CCERF in partnership with Ben Franklin Technology Partners of Southeastern Pennsylvania. It targets direct investments in early-stage and growth companies located in Chester County. The program blends the pension fund's capital with Ben Franklin's sourcing and underwriting capabilities, aiming to generate venture-style returns while keeping economic benefits local.

### What is CCERF's relationship with Ben Franklin Technology Partners?

Ben Franklin Technology Partners of Southeastern Pennsylvania serves as CCERF's partner on the Venture Chesco co-investment initiative. Ben Franklin, a state-funded economic development organization, provides deal flow, due diligence, and portfolio support. CCERF supplies institutional co-investment capital alongside Ben Franklin's own investments in qualifying Chester County companies.

### Is CCERF's AUM publicly available?

No. Chester County Employees Retirement Fund does not publish a current AUM figure on its public website or in readily accessible municipal financial reports. County-level pension plans often disclose AUM in annual comprehensive financial reports, but a searchable, centralized public number is not maintained by the fund itself.

## Related profiles

- [Cheshire Pension Fund](https://altss.com/profile/cheshire-pension-fund)
- [Chevron Corporation](https://altss.com/profile/chevron-corporation)

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Last updated: 2026-06-03T20:00:00.000Z

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