New Castle County, DE

New Castle County, DE

New Castle County Employees' Pension Program was established to administer retirement benefits for county workers. Daniel McFadden leads the board of trustees that oversees the plan. The structure remains a single-employer defined benefit arrangement. The program deploys capital across public equities, fixed income, private equity, and real estate. It maintains commitments to Brookfield Capital Partners IV, HarbourVest Partners IX, and TA Realty Fund XIII. Additional holdings include Backcast Credit Opportunities Fund II and Nexus Special Situations Fund IV. Geographic exposure centers on the United States with some global private equity funds. External managers such as Independent Franchise Partners and Rhumbline Advisers run separate mandates. Assets total $524 million. The plan retains NEPC as investment advisor since 2013 and CliftonLarsonAllen as auditor since 2023. September 2024: The program attended the NEPC Annual Investment Conference. Trustees also participate in the Government Finance Officers Association and the International Foundation of Employee Benefit Plans. The plan operates under standard public pension governance with an elected board and named professional administrators. Service providers handle actuarial work, third-party administration, and investment oversight without an internal investment staff.