Updated:
Missouri Department of Transportation & Patrol Employees' Retirement System
CIO Larry Krummen manages a $3.8B Missouri pension portfolio with direct ownership of global timberland, farmland, and infrastructure.
Missouri Department of Transportation & Patrol Employees' Retirement System
The Missouri Department of Transportation & Patrol Employees' Retirement System (MPERS) was established in 1955 to serve the career employees of MoDOT and the Missouri State Highway Patrol. Executive Director Scott Simon oversees the day-to-day administration from Jefferson City, while CIO Larry Krummen is the named fiduciary guiding the investment program. The system is governed by a board that includes active MoDOT employee representatives like Chair Todd Tyler, alongside state senators and the patrol's colonel. The investment program blends traditional public-market exposures with an unusually concrete private-markets allocation. The fund commits across the full capital structure — buyout, growth, venture (from seed to late-stage), mezzanine, and distressed debt — using a mix of fund-of-funds relationships, co-investments, and direct secondaries. MPERS directly owns a globally diversified timberland portfolio, a United States farmland portfolio, and a global infrastructure allocation alongside commercial real estate vehicles managed by Heitman. The fund participates in industry peer-ranking universes including the InvestorForce Public Fund Universe. While the system does not publish its exact headcount, the team is anchored by longtime CIO Larry Krummen and Executive Director Scott Simon. MPERS is an active participant in state and national retirement-system bodies: Simon serves as a voting board member of the Missouri Association of Public Employee Retirement Systems (MAPERS), and the fund holds memberships in the Council of Institutional Investors (CII), the National Association of State Retirement Administrators (NASRA), and the Government Finance Officers Association (GFOA), where it has been recognized for excellence in financial reporting. No major dated operational events have been publicly disclosed in the last 24 months. Structurally, MPERS differentiates itself from many state-level peers by maintaining direct ownership of hard assets — notably farmland and timberland — as a deliberate inflation hedge and uncorrelated return stream within a defined-benefit pension wrapper. Rather than outsourcing all private-market exposure through broad commingled funds, the system holds pieces of global land and operating infrastructure directly on its books, making the portfolio physically legible beyond its actuarial assumptions.
General information
Firm type
Pension Fund
Year founded
1955
AUM
$3.8B (Altss estimate)
Location
Region
North America
Country
United States
City
Jefferson City
Corporate office
813 W Stadium Blvd, Jefferson City, MO 65109, United States
Principals
Larry Krummen
Chief Investment Officer
Scott Simon
Executive Director
Todd Tyler
Board Chair
Sector focus
Frequently asked questions
Who makes the investment decisions at MPERS?
Chief Investment Officer Larry Krummen is responsible for the management and performance of the investment portfolio, serving alongside the Board of Trustees. The Board includes active employee representatives, state legislators, and the colonel of the Highway Patrol. Day-to-day operations are overseen by Executive Director Scott Simon, who acts as an advisor to the Board.
Does MPERS invest directly or through fund managers?
MPERS uses a hybrid approach. The system commits to private equity, venture capital, and private credit through fund-of-funds relationships, co-investments, and direct secondaries. In real assets, the fund holds direct ownership of global timberland, US farmland, and global infrastructure, while also using external managers like Heitman for a commercial real estate portfolio.
What is MPERS's exposure to real assets and natural resources?
The system maintains a distinct, tangible allocation to natural resources and real assets. Confirmed components include a globally diversified timberland portfolio, a United States farmland portfolio, a global infrastructure allocation, and a commercial real estate portfolio managed by Heitman. This direct ownership structure is unusual among state-level pension peers.
What types of private capital strategies does MPERS pursue?
MPERS writes checks from early-stage seed and startup investing through to late-stage venture, growth equity, and buyout. The fund also participates in distressed debt, mezzanine, special situations, turnaround investments, and CLOs, using fund commitments, co-investments, and direct secondary transactions.
Which employers participate in the MPERS retirement system?
The primary participating employers are the Missouri Department of Transportation (MoDOT) and the Missouri State Highway Patrol, along with the MPERS staff itself. The system was established in 1955 to provide retirement, survivor, and disability benefits for the lifetime of these public-sector employees.
How is MPERS governed?
MPERS is governed by a Board of Trustees that includes active employee representatives like Chair Todd Tyler of MoDOT, state legislators, the colonel of the Highway Patrol, and other appointed board members. The Board works with Executive Director Scott Simon and CIO Larry Krummen to administer the system and manage its assets.
What industry groups does MPERS participate in?
MPERS is active in multiple state and national retirement-system organizations. Executive Director Scott Simon serves as a voting board member of the Missouri Association of Public Employee Retirement Systems (MAPERS). The system also holds memberships in the Council of Institutional Investors (CII), the National Association of State Retirement Administrators (NASRA), and the Government Finance Officers Association (GFOA).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: