# Dartmouth-Hitchcock Pension Group Trust

Dartmouth-Hitchcock Pension Group Trust is a Pension Fund based in Lebanon, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Lebanon, United States
- **Region:** North America
- **Address:** Lebanon, NH, United States
- **Founded:** 1893
- **Assets under management:** Undisclosed
- **Website:** www.dartmouth-hitchcock.org
- **LinkedIn:** https://www.dartmouth-hitchcock.org

## Regulatory record

- **Reports private funds:** No

## About

The Trust manages retirement assets for employees of Dartmouth Hitchcock Medical Center and Clinics, administering 403(b) and 401(a) plans that feature employer contributions and matching for eligible staff. Its board draws on institutional investment leadership: Kathleen Fisher retired as Chief Investment Officer at AllianceBernstein, and Mark Begor serves as Board Chair of Dartmouth Health while leading Equifax as CEO. Portfolio construction spans three distinct asset classes. Real estate exposure includes a stake in the Host Hotels & Resorts portfolio, a global commercial property platform, alongside a targeted allocation to the NH Community Loan Fund’s Resident-Owned Cooperatives — a manufactured-housing preservation strategy within New Hampshire. The Trust also maintains a hedge fund allocation and participates in place-based community development initiatives via the Healthcare Anchor Network, a professional network of health systems deploying capital locally. The plan is a single-state, single-employer structure tied operationally to Dartmouth Health, whose president and CEO, Joanne Conroy, MD, also holds a trustee role. The Trust’s governance links asset oversight to clinical enterprise leadership without a separate investment staff, relying on board expertise and external manager relationships for portfolio execution. Its structural differentiator is the dual mandate: institutional return-seeking through global REITs and absolute-return strategies alongside mission-aligned local credit deployment. Few peer hospital-affiliated pension plans bridge a public-market-heavy portfolio with targeted, place-based investments explicitly designed to preserve affordable housing in their own operating region.

## Sectors

- Real Estate
- Hedge Funds
- Private Credit

## People

- Kathleen M. Fisher — Trustee; Retired Chief Investment Officer at AllianceBernstein
- Joanne M. Conroy — CEO and President of Dartmouth Health
- Mark W. Begor — Board Chair of Dartmouth Health; CEO of Equifax

## Questions

### Who runs investment decisions at Dartmouth-Hitchcock Pension Group Trust?

Oversight sits with a board of trustees that includes Kathleen Fisher, the former Chief Investment Officer at AllianceBernstein, and Joanne Conroy, MD, CEO of Dartmouth Health. The Trust does not maintain a dedicated internal investment staff; manager selection and asset allocation rely on board-level expertise and external relationships.

### How does the Trust source its real estate exposure?

Real estate investments include a position in the Host Hotels & Resorts portfolio, a publicly traded lodging REIT with a global property footprint. The Trust also allocates to the NH Community Loan Fund’s Resident-Owned Cooperatives, a local manufactured-housing preservation strategy in New Hampshire.

### Is the Trust involved in place-based or community investing?

Yes. Through its membership in the Healthcare Anchor Network, the Trust participates in place-based investing and community development initiatives. Its allocation to the NH Community Loan Fund’s Resident-Owned Cooperatives is a direct example of capital deployed locally to preserve affordable housing.

### What pension plans does the Trust administer?

The Trust administers 403(b) and 401(a) defined-contribution plans for employees of Dartmouth Hitchcock Medical Center and Clinics. Both plans include employer contributions and matching programs for eligible staff.

### Does the Trust invest in hedge funds?

Yes, the Trust maintains an allocation to hedge funds, as confirmed by Altss research. Specific managers or strategies within that allocation have not been publicly disclosed.

## Related profiles

- [Dartmouth-Hitchcock Clinic](https://altss.com/profile/dartmouth-hitchcock-clinic)
- [Darwin Wealth Management](https://altss.com/profile/darwin-wealth-management)

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

Canonical page: https://altss.com/profile/dartmouth-hitchcock-pension-group-trust

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