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City of Bismarck (ND) Police Pension Fund
The City of Bismarck Police Pension Fund serves as the retirement vehicle for sworn officers of North Dakota's capital city police department.
City of Bismarck (ND) Police Pension Fund
The City of Bismarck Police Pension Fund serves as the retirement vehicle for sworn officers of North Dakota's capital city police department. The plan operates under a board of trustees and receives financial oversight from the City of Bismarck's finance director. Like many municipal pension funds, it is structured as a defined-benefit plan, pooling contributions from the sponsoring municipality and its members. Despite its modest size, the fund maintains an investment program that spans several alternative asset classes. The portfolio includes commitments to venture capital vehicles, providing exposure to early-stage and growth equity. On the real assets side, the fund participates in global infrastructure through J.P. Morgan Infrastructure Investments Fund and ISQ Global Infrastructure Fund II, alongside targeted Asian real estate exposure via Invesco Asia Real Estate Fund III. It also holds a position in the J.P. Morgan Strategic & Special Situation Property Blend, a mixed-use real estate vehicle. A short-term investment fund in Chicago rounds out the liquid holdings. The fund's assets are invested under the supervision of the Bismarck City Police Pension Plan Board of Trustees, with administrative and financial oversight from the City of Bismarck. Investment management and advisory support is provided through the North Dakota Retirement and Investment Office, led by CIO Scott M. Anderson. The fund does not maintain a standalone investment staff. What distinguishes the Bismarck Police Pension Fund structurally is its integration with the broader North Dakota public pension ecosystem. Rather than building internal investment capabilities for a relatively small asset pool, the fund leverages the state-level Retirement and Investment Office for portfolio construction and manager selection. This hub-and-spoke model allows sub-scale municipal plans to access institutional-quality alternative investments — including venture capital and global infrastructure — that would be difficult to source and diligence independently.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Bismarck
Corporate office
Bismarck, ND, United States
Principals
Dmitriy Chernyak
Finance Director, City of Bismarck
Scott M. Anderson
Chief Investment Officer, North Dakota Retirement and Investment Office
Sector focus
Frequently asked questions
Who makes investment decisions for the Bismarck Police Pension Fund?
Investment decisions are delegated to the North Dakota Retirement and Investment Office, under CIO Scott M. Anderson, which manages assets for multiple state and municipal pension plans. The Bismarck City Police Pension Plan Board of Trustees retains governance authority over plan administration. Day-to-day financial oversight involves the City of Bismarck's finance director, Dmitriy Chernyak.
Is the Bismarck Police Pension Fund a standalone investor, or does it pool assets with other North Dakota plans?
It pools assets through the North Dakota Retirement and Investment Office, which manages a consolidated trust for multiple state and local pension funds. This structure gives the Bismarck plan access to institutional private-market funds that would be difficult to negotiate independently. The pooled approach also reduces administrative and due-diligence costs for each participating plan.
What alternative asset classes does the fund invest in?
Commitments include venture capital, global infrastructure, and Asian real estate. Known positions are J.P. Morgan Infrastructure Investments Fund, ISQ Global Infrastructure Fund II, J.P. Morgan Strategic & Special Situation Property Blend, and Invesco Asia Real Estate Fund III. The fund also maintains a liquid short-term investment pool domiciled in Chicago.
Does the fund invest directly in private companies, or only through funds?
The Bismarck Police Pension Fund accesses private markets exclusively through commingled fund commitments and pooled investment vehicles. It does not make direct company investments or co-investments. The fund-of-funds style approach is consistent with its sub-scale asset base and reliance on the state-level investment office.
How transparent is the fund's performance reporting?
As a public pension fund, performance data is reported through the North Dakota Retirement and Investment Office's annual reports and board meeting materials. The RIO publishes consolidated trust returns, which include the Bismarck police plan alongside other participating municipal plans. Individual plan-level asset allocations and returns are typically available through public records requests.
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