Monroe County Employees' Retirement System

Monroe County Employees' Retirement System

The Monroe County Employees' Retirement System was established in 1965 as a single-employer defined benefit plan for permanent full-time employees of Monroe County, Michigan. Michael Grodi serves as chairman of its board of trustees. The plan deploys capital through external managers into public equity mandates and real estate funds. Confirmed holdings include positions in TerraCap Partners IV, TerraCap Partners VI, Alidade Capital Fund IV, Intercontinental U.S. Real Estate Investment Fund, and Boyd Watterson real estate strategies. It also maintains commitments to private credit vehicles including Monroe Capital Private Credit V and Raven Asset-Based Credit Fund I. Allocations span U.S. large-cap value, growth, small-mid cap, and international equity strategies. Assets totaled $257 million as of December 31, 2024. The plan retains Mariner Institutional as investment advisor, Fifth Third Bank and Northern Trust as custodians, Nyhart as actuary, and VanOverbeke, Michaud & Timmony as legal counsel. It participates in MAPERS and NCPERS industry associations. Governance centers on a retirement board that oversees manager selection and monitors a standard public pension mandate without direct deal or co-investment programs.