Richmond Retirement System

Richmond Retirement System

Richmond Retirement System was established in 1945 as the administrator of retirement benefits for municipal employees. Leo F. Griffin holds the Executive Director position. The plans cover workers at the City of Richmond and the Richmond Behavioral Health Authority. The system maintains a target allocation of 9 percent to private equity and currently deploys 7.54 percent in that asset class. Holdings include commitments to H.I.G. Capital, Clayton Dubilier & Rice, Harwood Private Equity IV and Atalaya Capital Management. Additional exposure runs through real estate vehicles such as Heitman North America Private Equity and CenterSquare US Real Estate Securities, plus private debt funds. All investments are executed via limited partnership interests with managers based in the United States and United Kingdom. The system lists 835 million dollars in total assets. It retains Callan LLC as investment advisor and Northern Trust Corporation as master custodian. Board meetings in April 2024 addressed investment performance and private equity commitments. The City of Richmond acts as the primary sponsoring employer. Governance rests with a Board of Trustees that includes city officials and investment professionals from Riverfront Investment Group. This structure ties investment oversight directly to the municipal sponsor rather than to a standalone investment office.