# South Dakota Investment Council

South Dakota Investment Council is a Pension Fund based in Sioux Falls, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Sioux Falls, United States
- **Region:** North America
- **Address:** 222 East Capitol Avenue, Sioux Falls, SD 57106-3784, United States
- **Founded:** 1974
- **Assets under management:** 14900 (Altss estimate)
- **Website:** www.sd.gov
- **LinkedIn:** https://www.linkedin.com/company/south-dakota-investment-council

## Regulatory record

- **Reports private funds:** No

## About

The South Dakota Retirement System was established in 1974 to deliver retirement, disability and survivor benefits. Matthew L. Clark serves as State Investment Officer. The council invests assets on behalf of the plan, which draws funding from contributions and returns. Allocations include an 11 percent weighting to private equity against a 6 percent target. Confirmed commitments cover Blackstone Real Estate Partners Europe VI, Lone Star Real Estate Fund VI, LBA Logistics Value Fund X, The Seventh Cinven Fund, R-Bridge Healthcare Fund II, Oaktree Power Opportunities Fund VII, Linden Capital Partners VI and H.I.G. Europe Middle Market LBO Fund II. Public equity holdings reported in 13F filings include positions in Microsoft, NVIDIA and Apple. The geographic reach spans the United States and Europe. The council reports 14,900 million dollars under management. It maintains memberships in the Institute for Limited Partners Association, Pacific Pension Institute, National Association of State Investment Officers and CFA Institute. Matthew L. Clark participates in the NCTR Annual Conference and the Chief Investment Officer Profile Series. No operational events from the last 24 months appear in available records. The council functions as an internal investment office for a single public pension plan rather than a multi-client platform. Governance ties the investment function directly to the South Dakota Retirement System board and state treasurer through ex-officio membership.

## Sectors

- Private Equity
- Real Estate
- Public Equity
- Fixed Income

## People

- Matthew L. Clark — State Investment Officer
- Steve Pietila — Chair
- Travis Almond — Executive Director

## Questions

### Who runs investment decisions at South Dakota Investment Council?

Matthew L. Clark serves as State Investment Officer and has held the role since 2005. He also sits on the investment committees of the University of South Dakota Foundation and South Dakota State University Foundation.

### Does South Dakota Investment Council participate in fund commitments or only direct deals?

The council acts as a limited partner in private equity and real estate funds. Documented commitments include Blackstone Real Estate Partners Europe VI and The Seventh Cinven Fund.

### What asset classes receive the largest allocations?

Public equity and fixed income form the core holdings, with private equity targeted at 6 percent and currently at 11 percent. Real estate funds also appear in the portfolio.

### Where does the underlying capital originate?

Assets come from the South Dakota Retirement System, funded by member and employer contributions together with investment income.

### Which service providers support the council's operations?

BNY Mellon acts as custodian and transfer agent. Northern Trust provides securities lending services. The South Dakota Department of Legislative Audit serves as auditor.

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

Canonical page: https://altss.com/profile/south-dakota-investment-council

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