# Public Employee Retirement System of Idaho

Public Employee Retirement System of Idaho is a Pension Fund based in Boise, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Boise, United States
- **Region:** North America
- **Address:** 607 North 8th Street, Boise, ID 83720-0078, United States
- **Founded:** 1963
- **Assets under management:** 24962 (Altss estimate)
- **Website:** persi.idaho.gov

## Regulatory record

- **Reports private funds:** No

## About

The Public Employee Retirement System of Idaho was established in 1963 by the State of Idaho to deliver retirement, disability, survivor and separation benefits. It covers active public employees, retirees and beneficiaries statewide. The plan sponsor relationship with the State of Idaho determines board appointments and contribution policy. The system targets an 8 percent private equity allocation and currently sits at 7.4 percent. Holdings include commitments to KKR North America Fund XIV, GTCR Strategic Growth Fund II, Platinum Equity Small Cap Fund II and EPIC Ventures VII. Real estate exposure runs through direct Idaho commercial mortgages administered by D.B. Fitzpatrick & Co. and separate accounts managed by AEW Capital Management and Principal Asset Management. Fixed income holdings exceed $7.4 billion, including TIPS positions. Geographic reach centers on North America with selected European and global fund commitments. The portfolio supports roughly 25,000 million dollars in assets. Additional offices are not maintained. Service providers include Callan as general investment consultant, Hamilton Lane as private equity consultant and BNY Mellon as custodian. In December 2024 the Retirement Board reviewed private equity performance and a new GTCR commitment. In March 2025 the board examined actuarial assumptions and contribution rates. Governance flows through a Retirement Board appointed by the State of Idaho with the Executive Director handling administration and the CIO directing investment execution. This structure separates plan sponsorship from day-to-day portfolio decisions while retaining public oversight.

## Sectors

- Private Equity
- Real Estate
- Fixed Income

## People

- Jeff Cilek — Chairman of the Retirement Board
- Park Price — Vice Chair of the Retirement Board

## Questions

### Who runs investment decisions at Public Employee Retirement System of Idaho?

Richelle Sugiyama serves as Chief Investment Officer and oversees portfolio strategy. Chris Brechbuhler acts as Deputy Chief Investment Officer. The Retirement Board, chaired by Jeff Cilek, sets high-level policy.

### Does Public Employee Retirement System of Idaho participate in fund commitments or only direct deals?

The system makes fund commitments to private equity and venture vehicles. It also holds direct Idaho commercial mortgages and separate-account real estate positions.

### What asset classes does Public Employee Retirement System of Idaho target?

Private equity, real estate and fixed income form the core allocation. Private equity sits near an 8 percent target. Real estate includes both direct mortgages and externally managed portfolios.

### How is Public Employee Retirement System of Idaho related to the State of Idaho?

The State of Idaho is the plan sponsor and appoints Retirement Board members. The system operates as a separate legal entity but remains subject to state oversight.

### Does Public Employee Retirement System of Idaho maintain direct real estate exposure?

Yes. It runs the Idaho Commercial Mortgage Program and holds separate accounts with AEW Capital Management and Principal Asset Management.

### Which service providers support Public Employee Retirement System of Idaho investments?

Callan serves as general investment consultant. Hamilton Lane advises on private equity. BNY Mellon acts as custodian. Milliman provides actuarial services.

## Related profiles

- [DAYS Partner](https://altss.com/profile/days-partner)
- [Pensionskasse Stadt Zürich](https://altss.com/profile/pensionskasse-stadt-z-rich)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/public-employee-retirement-system-of-idaho

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