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Maryland-National Capital Employees' Retirement System
The system was established in 1972 by the Maryland-National Capital Park and Planning Commission to administer retirement benefits for its employees in...
Maryland-National Capital Employees' Retirement System
The system was established in 1972 by the Maryland-National Capital Park and Planning Commission to administer retirement benefits for its employees in Montgomery and Prince George's counties. Jaclyn Harris was appointed Executive Director effective November 1, 2024. Allocations include a 12.53 percent target to private equity with an 8 percent policy weight. Confirmed holdings encompass commitments to Audax Private Debt, GCM Grosvenor, Golub Capital, Oaktree Real Estate Debt Fund, and Wilshire MNCPPC ERS Global. The portfolio also maintains exposure to REITs and fixed income securities. Geographic reach centers on United States assets with select global equity and private equity vehicles. The Board of Trustees held its regular meeting in October 2024 to address investment policy updates and actuarial valuations. Meketa Investment Group serves as investment consultant and The Northern Trust Company acts as custodian. The system participates in NCPERS and GFOA industry groups. Governance ties directly to the founding commission through ex-officio trustees and county commissioner representation on the board, creating a single-employer structure with no external LP capital.
General information
Firm type
Pension Fund
Year founded
1972
Location
Region
North America
Country
United States
City
Chester
Corporate office
6611 Kenilworth Avenue, Suite 100, Riverdale, MD, United States
Principals
Jaclyn Harris
Executive Director
Darryl Barnes
Chair
James Hedrick
Vice Chair
Sector focus
Frequently asked questions
Who runs investment decisions at Maryland-National Capital Employees' Retirement System?
Jaclyn Harris serves as Executive Director. The Board of Trustees, chaired by Darryl Barnes, oversees policy with support from Meketa Investment Group as consultant.
What asset classes receive allocations?
Public equities, fixed income, real estate via REITs, and private equity at a current 12.53 percent weighting against an 8 percent target.
Does the system commit to external managers?
Yes. Positions include Audax Private Debt, GCM Grosvenor, Golub Capital, and Oaktree Real Estate Debt Fund.
Where does the underlying obligation originate?
The plan covers employees of the Maryland-National Capital Park and Planning Commission in Montgomery and Prince George's counties since its 1972 establishment.
What recent governance change occurred?
Jaclyn Harris was appointed Executive Director effective November 1, 2024.
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