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New Hampshire Retirement System
The New Hampshire Retirement System was established in 1967 as a contributory public employee defined benefit pension plan. It serves state, county, and...
New Hampshire Retirement System
The New Hampshire Retirement System was established in 1967 as a contributory public employee defined benefit pension plan. It serves state, county, and municipal employees along with teachers, police, and firefighters. Funding comes from member contributions, employer contributions, and investment returns. The portfolio includes commitments to real estate vehicles such as Almanac Realty Securities VII LP, Ares Industrial Real Estate Fund LP, and Bridge Logistics US Venture I LP. Additional holdings cover private credit through Ares Pathfinder Fund II and Blackstone Private Multi-Asset Credit Fund, plus infrastructure exposure via J.P. Morgan Infrastructure Investments Fund. Geographic reach centers on the United States with select global mandates. Assets stood at $12.6 billion as of the most recent reported period, with 2025 seeing the appointment of Danita Johnson as Head of Private Markets. The system maintains relationships with Callan Associates as investment advisor and The Townsend Group as real estate consultant. It participates in professional networks including the Council of Institutional Investors and National Association of State Retirement Administrators. Governance separates the Board of Trustees, chaired by Maureen Kelliher, from the Independent Investment Committee led by Christine Clinton. This structure routes private market decisions through the committee while the full board handles legislative and administrative oversight.
General information
Firm type
Pension Fund
Year founded
1967
Location
Region
North America
Country
United States
City
Concord
Corporate office
54 Regional Drive, Concord, NH 03301, United States
Principals
Jan Goodwin
Executive Director
Raynald Leveque
Chief Investment Officer
Maureen Kelliher
Chair of the Board of Trustees
Danita Johnson
Head of Private Markets
Christine Clinton
Chair of the Independent Investment Committee
Sector focus
Frequently asked questions
Who runs investment decisions at New Hampshire Retirement System?
Raynald Leveque serves as Chief Investment Officer. Danita Johnson leads private markets. The Independent Investment Committee, chaired by Christine Clinton, reviews managers and commitments.
Does New Hampshire Retirement System participate in fund commitments or only direct deals?
The system invests primarily through fund commitments. Holdings include Almanac Realty Securities VII LP, Ares Industrial Real Estate Fund LP, and Ares Pathfinder Fund II.
What asset classes does New Hampshire Retirement System allocate to?
Allocations include public equities, fixed income, real estate, private credit, infrastructure, and venture capital. Confirmed positions span multiple real estate and credit funds.
Where does the underlying wealth come from for New Hampshire Retirement System?
Assets derive from member and employer contributions plus net investment returns for a public defined benefit plan covering New Hampshire state and local employees.
How is New Hampshire Retirement System related to the State of New Hampshire?
The system operates as a component unit of the State of New Hampshire with the State Treasurer serving as an ex officio trustee.
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