# Portico Benefit Services

Portico Benefit Services is a Pension Fund based in Minneapolis, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Minneapolis, United States
- **Region:** North America
- **Address:** 7700 France Avenue South Suite 350, Minneapolis, Minnesota, United States
- **Founded:** 1987
- **Assets under management:** 8700 (Altss estimate)
- **Website:** porticobenefits.org
- **LinkedIn:** https://www.linkedin.com/company/portico-benefit-services

## Regulatory record

- **Reports private funds:** No

## About

Portico Benefit Services was established in 1987 as a ministry of the Evangelical Lutheran Church in America. It continues a benefits tradition for church workers that extends back more than two centuries. The firm provides health, retirement, life, disability, and wellness programs to ELCA congregations, colleges, and social ministry organizations. The asset allocation includes a 7.16 percent allocation to private equity. Confirmed holdings encompass positions in Adams Street Partners. Real estate exposure appears through the Global Real Estate Securities Fund and the Legacy Lofts joint venture with IFF and Evergreen Real Estate Group. Public equity holdings include Meta Platforms, McDonald's, and JPMorgan Chase. Geographic reach centers on North America with additional exposure through global managers. The organization maintains service relationships with BNY Mellon as custodian and PineBridge Investments, Impax Asset Management, and Nuveen as investment advisors. It participates in the Church Benefits Association and the Interfaith Center on Corporate Responsibility. Recent activity includes sponsorship of the ELCA Churchwide Assembly in August 2025. Portico functions under direct oversight of the ELCA, which created the entity to centralize benefits administration for its network. This structure separates investment activity from commercial fund management and ties capital deployment to the church's mission requirements.

## Sectors

- Real Estate
- Financial Services
- Healthcare

## People

- Jeffrey Thiemann — CEO
- Stacy Kruse — CFO

## Questions

### Who runs investment decisions at Portico Benefit Services?

Jeffrey Thiemann serves as CEO. Stacy Kruse serves as CFO. External advisors include PineBridge Investments and Impax Asset Management.

### How does Portico Benefit Services source proprietary deal flow?

Deal flow occurs through relationships with the ELCA network and participation in the Church Benefits Association. Public equity engagement is conducted via the Interfaith Center on Corporate Responsibility.

### Does Portico Benefit Services participate in fund commitments or only direct deals?

The firm holds limited partner positions in Adams Street Partners and Alcuin Capital Partners. It also maintains direct real estate exposure through joint ventures such as Legacy Lofts.

### What investment stages does Portico Benefit Services typically target?

Allocations include private equity at 7.16 percent, real estate securities, and public equities. Specific stage preferences are not disclosed in available records.

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- [Philadelphia Public Employees’ Retirement System](https://altss.com/profile/philadelphia-public-employees-retirement-system)
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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/portico-benefit-services

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