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The Educational Employees’ Supplementary Retirement System of Fairfax County (ERFC)
The Educational Employees’ Supplementary Retirement System of Fairfax County was established to deliver supplemental retirement benefits to employees of...
The Educational Employees’ Supplementary Retirement System of Fairfax County (ERFC)
The Educational Employees’ Supplementary Retirement System of Fairfax County was established to deliver supplemental retirement benefits to employees of Fairfax County Public Schools. Kimberly Adams serves as chairperson and also holds an officer role at the National Council on Teacher Retirement. The portfolio allocates across multiple asset classes. Confirmed holdings include Berkshire Multifamily Credit Fund IV, FPA Apartment Opportunity Fund IX, Brookfield Strategic Real Estate Partners V, and opportunistic hedge fund strategies valued at $273.9 million. Additional exposure covers global infrastructure at $69.3 million and natural resources at $23.1 million. The system also commits to secondaries and private equity vehicles including Francisco Partners VIII and Foundation Capital funds. Geographic reach spans North America and global markets. Assets total $3.3 billion. The system maintains relationships with Segal Marco Advisors as general investment consultant and Meketa Investment Group for private markets. Trustees participate in programs through the National Conference on Public Employee Retirement Systems and the International Foundation of Employee Benefit Plans. October 2024: Kimberly Adams spoke at the NCTR Annual Conference on public pension governance. ERFC operates as a distinct supplemental plan alongside the Virginia Retirement System, with governance tied directly to the Fairfax County Public Schools board structure rather than a standalone municipal entity.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Falls Church
Principals
Kimberly Adams
Chairperson of the Board of Trustees
Sector focus
Frequently asked questions
Who runs investment decisions at ERFC?
Kimberly Adams serves as chairperson of the board of trustees. Segal Marco Advisors acts as general investment consultant and Meketa Investment Group advises on private markets.
Does ERFC participate in fund commitments or only direct deals?
The system commits as a limited partner to closed-end funds and secondaries vehicles. Holdings include Brookfield Strategic Real Estate Partners V and Francisco Partners VIII.
What asset classes receive the largest allocations?
Hedge funds represent the largest disclosed allocation at $273.9 million. Infrastructure follows at $69.3 million, with smaller positions in natural resources and real estate credit funds.
How is ERFC related to Fairfax County Public Schools?
ERFC functions as a component unit of Fairfax County Public Schools and provides supplemental benefits to its employees beyond those offered by the Virginia Retirement System.
Which industry associations does ERFC maintain membership in?
The system belongs to the National Council on Teacher Retirement, the National Conference on Public Employee Retirement Systems, and the International Foundation of Employee Benefit Plans.
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