Holyoke Retirement Board

Holyoke Retirement Board

The Holyoke Retirement Board was established in 1937 to administer the contributory retirement system for municipal employees. Anthony Dulude handles day-to-day operations while a five-member board sets policy. Cheryl Dugre serves as chair after prior service as executive director. The board maintains a 17.6 percent allocation to private equity. Holdings include commitments to Long Wharf Real Estate Partners VI, TerraCap Partners VI, IC Berkeley Partners III, Fidelity Real Estate Growth Fund III, Serenitas Credit Gamma Fund, PennantPark Credit Opportunities, Constitution Capital Partners Ironsides Partner Fund III and Hamilton Lane Co-Investment Fund III. Additional exposure runs through public equity mandates with Aristotle Capital Management, Goldman Sachs Asset Management and Rhumbline Advisers, plus fixed income with C.S. McKee. All investments target the United States and global developed markets. Plan assets stood at $378.9 million as of the most recent valuation. The board retains Mariner Institutional as investment consultant since 2024 and Segal as actuary since 2018. It belongs to the Massachusetts Association of Contributory Retirement Systems and attended the MACRS Fall Conference in Springfield in December 2024. The board operates as an independent public entity with statutory governance separate from city operating budgets. Five board members combine elected, appointed and ex-officio roles, creating a layered oversight structure under PERAC supervision.