# City of New Haven City of New Haven is a Public Pension Fund based in New Haven, United States. ## Overview - **Organization type:** Public Pension Fund - **Headquarters:** New Haven, United States - **Region:** North America - **Address:** New Haven, CT, United States - **Founded:** 1938 - **Assets under management:** ~$193M (Altss estimate) - **Website:** www.newhavenct.gov - **LinkedIn:** https://www.linkedin.com/company/city-of-new-haven ## Regulatory record - **Reports private funds:** No ## About The City of New Haven's retirement system was established in 1938 to provide service, disability, and death benefits to municipal employees. Mayor Justin Elicker and City Controller Kristy Sampieri serve as ex-officio board members, with Leanna Ambersley administering day-to-day operations. The system encompasses two separate funds — the City Employees' Retirement Fund (CERF) and the Police & Fire Fund (P&F) — both governed by a single retirement board responsible for investment policy and fiduciary oversight. New Haven allocates across a wide spectrum of private and public markets, with a disclosed strategy that spans buyout, growth equity, distressed debt, mezzanine, special situations, and early-stage venture. The system participates as a limited partner in fund-of-funds structures and also pursues co-investments alongside external managers — a common approach for smaller public plans seeking to access institutional-quality deals while managing fee pressure. Its real estate portfolio includes mixed-use assets, and the system maintains a cash management allocation through Connecticut's Short Term Investment Fund (STIF), a state-run vehicle for public entities. Geographic exposure extends across the United States, with no concentrated international mandate. The system's size — among the smallest public pension plans in Connecticut — shapes its approach. New Haven participates in industry bodies such as the National Conference on Public Employee Retirement Systems (NCPERS) and the National Association of Securities Professionals (NASP), leveraging those networks for manager sourcing and governance best practices. In September 2024, the retirement board conducted routine reviews of investment performance and updated actuarial assumptions in line with state reporting requirements, reflecting the ongoing administrative cadence of a plan with a single pension administrator. Structurally, New Haven's distinct character lies in its origin as a municipal hybrid: it operates as a public defined-benefit plan but relies on external fund managers and consultant-led sourcing rather than an internal investment office. This trustee-consultant governance model — where investment decisions filter through a politically appointed board rather than a chief investment officer — faces the same resource constraints common to smaller public funds. The system's ability to meet its actuarial targets depends on a combination of steady municipal contributions, disciplined asset allocation across private and public vehicles, and the performance of the external managers it selects. ## Sectors - Real Estate - Private Credit - Private Equity - Growth Equity ## People - Justin Elicker — Mayor, Ex-Officio Board Member - Kristy Sampieri — City Controller, Board Member - Leanna Ambersley — Pension Administrator ## Questions ### Who makes investment decisions for the City of New Haven retirement funds? A retirement board administers both the City Employees' Retirement Fund and the Police & Fire Fund. Mayor Justin Elicker and City Controller Kristy Sampieri serve as ex-officio board members. The board relies on external consultants and fund managers for asset allocation recommendations and manager selection, as the system does not maintain a dedicated internal investment staff. ### Does New Haven participate in fund commitments or direct deals? Both. The system's strategy spans fund-of-funds commitments, direct co-investments alongside external managers, and direct real estate holdings. Public records identify allocations across buyout, growth equity, venture capital, distressed debt, and mezzanine strategies, though the system does not publicly disclose individual fund names or co-investment positions. ### Where does the pension fund's capital come from? Contributions flow from two primary sources: employee payroll deductions and employer contributions from the City of New Haven's general fund. Investment returns on the accumulated assets form the third leg of the funding structure. The system's funded status depends on the interplay of contribution discipline, actuarial assumptions, and market performance. ### How is the pension fund related to other New Haven municipal financial entities? The retirement board operates independently from the city's annual operating budget, though the mayor and city controller serve on the board. Connecticut's Short Term Investment Fund (STIF) provides a cash management vehicle for the system's short-term reserves, and the city maintains separate real estate assets outside the pension funds. The retirement system is a distinct legal entity with its own fiduciary obligations. ## Related profiles - [Bright Horizons Foundation for Children](https://altss.com/profile/bright-horizons-foundation-for-children) - [Hopkins School](https://altss.com/profile/hopkins-school) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/city-of-new-haven Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology