# Seattle City Employees' Retirement System

Seattle City Employees' Retirement System is a Pension Fund based in Seattle, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Seattle, United States
- **Region:** North America
- **Address:** 720 3rd Ave, 9th Floor, Seattle, WA, United States
- **Founded:** 1929
- **Assets under management:** $4.4B (Altss estimate)
- **Website:** seattle.gov/retirement

## About

Seattle City Employees' Retirement System was established in 1929. Jason Malinowski serves as chief investment officer. The system operates as a public defined benefit plan governed by the Seattle Municipal Code. SCERS allocates 11.99 percent of assets to private equity against an 11 percent target. Confirmed holdings include Sculptor Real Estate Fund V at $20 million, Sculptor Real Estate Fund IV at $17.5 million, and Brookfield Infrastructure Fund IV at $25 million. Additional positions span Tiger Infrastructure Partners Fund IV and Arcmont Direct Lending Fund V. Geographic exposure covers the United States and Western Europe through these vehicles. The system reports 4,352 million dollars in assets. It maintains memberships in the Council of Institutional Investors, Principles for Responsible Investment, and Climate Action 100+. Service providers include NEPC as investment advisor since 2016 and BNY Mellon as custodian since 2023. September 2024: Spoke at Council of Institutional Investors Fall Conference on evolution of institutional investor portfolio allocations. SCERS follows a Positive Action Strategy that integrates climate risk and shareholder advocacy. Governance rests with a board chaired by a Seattle City Council member alongside staff investment officers. This structure separates benefit administration from investment execution under municipal code provisions.

## Sectors

- Infrastructure
- Real Estate
- Private Equity

## People

- Jeffrey S. Davis — Executive Director
- Jason Malinowski — Chief Investment Officer
- Dan Strauss — Board Chair
- Leola Ross — Investment Officer

## Questions

### Who runs investment decisions at Seattle City Employees' Retirement System?

Jason Malinowski serves as chief investment officer and oversees portfolio strategy. Jeffrey S. Davis acts as executive director responsible for day-to-day management. Leola Ross contributes as investment officer with focus on ESG matters.

### What investment stages does Seattle City Employees' Retirement System typically target?

The system targets buyout, growth capital, co-investment, and secondaries strategies. It also holds positions in early stage and distressed debt vehicles. Target IRR sits at 6.75 percent.

### How does Seattle City Employees' Retirement System source proprietary deal flow?

SCERS accesses deals through memberships in the Institutional Limited Partners Association and Council of Institutional Investors. It engages external advisors including NEPC for manager selection. No internal direct sourcing program is documented.

### What is Seattle City Employees' Retirement System's known posture on co-investments alongside external GPs?

Records list co-investment as one of several approved strategies. No specific co-investment volume or named co-investors appear in current holdings data.

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- [DGA-Producer Pension & Health Plans](https://altss.com/profile/dga-producer-pension-health-plans)
- [Fondo Italiano d'Investimento](https://altss.com/profile/fondo-italiano-d-investimento)

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

Canonical page: https://altss.com/profile/seattle-city-employees-retirement-system

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