# Richmond Retirement System

Richmond Retirement System is a Pension Fund based in Richmond, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Richmond, United States
- **Region:** North America
- **Address:** 730 E. Broad Street, Suite 900, Richmond, VA, United States
- **Founded:** 1945
- **Assets under management:** 835 (Altss estimate)
- **Website:** rva.gov
- **LinkedIn:** https://www.linkedin.com/company/richmond-retirement-system

## Regulatory record

- **CRD number:** 104636
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-03-26T05:00:00.000Z
- **Reports private funds:** Yes
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/104636

## About

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.

## Sectors

- Diversified
- Public Pensions

## People

- Leo F. Griffin — Executive Director
- Captain Faith Flippo — Chair of the Board of Trustees
- Adam Grossman — Vice Chair of the Board of Trustees

## Questions

### Who runs investment decisions at Richmond Retirement System?

Leo F. Griffin serves as Executive Director. The Board of Trustees, chaired by Captain Faith Flippo, sets policy. Adam Grossman of Riverfront Investment Group sits as Vice Chair.

### Does Richmond Retirement System participate in fund commitments or only direct deals?

The system invests exclusively through limited partnership interests in external funds. Confirmed positions include H.I.G. Capital, Clayton Dubilier & Rice and Harwood Private Equity IV.

### What asset classes receive allocations at Richmond Retirement System?

Public equities, fixed income, private equity, real estate and private debt form the main exposures. Private equity carries a 9 percent target allocation.

### How is Richmond Retirement System related to the City of Richmond?

The City of Richmond is the sponsoring employer and primary plan participant. The Richmond Behavioral Health Authority also participates as a covered employer.

### Which external advisors support Richmond Retirement System?

Callan LLC acts as investment advisor. Northern Trust Corporation serves as master custodian. Moss Adams LLP performs audits.

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

Canonical page: https://altss.com/profile/richmond-retirement-system

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology