Cleveland Clinic Foundation Retirement Plan

Cleveland Clinic Foundation Retirement Plan

The Cleveland Clinic Foundation Retirement Plan functions as the pension vehicle for the Cleveland Clinic, the Ohio-based academic medical center that consistently ranks among the nation's top hospitals. Chief Investment Officer Stefan Strein and Executive Director of Investments George Mateyo run the investment program from the health system's Cleveland headquarters, managing retirement assets alongside the Clinic's broader institutional pools. The fund pursues a multi-asset strategy with a pronounced tilt toward venture capital and medical real estate. On the venture side, the plan makes direct commitments and participates in an Alternative Investment Pool that targets general venture capital opportunities. Real estate activity centers on the Cleveland Clinic's own operational footprint: in a transaction that illustrates the fund's direct-deal capability, it partnered with MedCraft HealthCare Real Estate on a sale-leaseback covering 24 medical facilities. The portfolio also includes the Global Peak Performance Center, a mixed-use development in downtown Cleveland built in partnership with the Cleveland Cavaliers. Additional owned assets include the Cleveland Clinic Westlake Medical Campus, the Mansfield Outpatient Facility, and Cleveland Clinic Akron General — properties that situate the retirement plan as an extension of the health system's real-world operations rather than a remote allocator (per public record). The retirement plan sits inside a larger investment enterprise that encompasses the Cleveland Clinic Foundation's endowment-like pools and philanthropic assets. The same team under Strein and Mateyo manages both the pension and the health system's broader investment program, creating a centralized investment office that deploys across venture, real estate, and alternative strategies. The Clinic's deep ties to Case Western Reserve University — partner in the Lerner College of Medicine — further embed the investment function within a network of academic and clinical capital flows. What distinguishes this fund structurally is its integration with an operating health system. Rather than existing as a standalone pension plan that allocates from a distance, the retirement portfolio co-invests directly in the facilities and partnerships that the Cleveland Clinic itself occupies and operates. The MedCraft sale-leaseback and the Cavaliers-backed Global Peak Performance Center are not passive LP positions — they are principal investments tied to the Clinic's strategic real estate and clinical infrastructure.