UMass Memorial Health Care Pension Plan

The plan is overseen by an Investment and Pension Committee that includes EVP and CFO Sergio Melgar. Board-level governance sits with Chair Lynda M. Young and CEO Eric Dickson. The sponsor, UMass Memorial Health, is Central Massachusetts' largest healthcare system, and the committee's decisions reflect the system's broader institutional priorities, including its anchor-investment commitments.

The pension gains buyout exposure through fund commitments, with Tourmalet Matawin Fund VI appearing in public alternative-investment records. Tourmalet Partners operates a fund-of-funds and co-investment platform targeting middle-market buyout managers. The plan also participates in the UMass Memorial Investment Partnership, a Massachusetts limited partnership that may consolidate or direct co-investment capital.

UMass Memorial Health was a co-founding member of the Healthcare Anchor Network, a coalition of hospital systems that commit to place-based investing — directing a portion of their treasury and pension assets toward local housing, small-business lending, and community development. The pension plan operates as one vehicle through which this anchor mission is executed, particularly in Central Massachusetts.

Yes. The UMass Memorial Foundation manages the health system's charitable and grant-making activities, while the pension plan operates under a separate trust governed by ERISA. This separation preserves the charitable mission's distinct governance while insulating retirement assets from non-pension liabilities.

The plan exhibits a strong Northeast and Massachusetts bias, consistent with the Healthcare Anchor Network's place-based mandate. While fund commitments like Tourmalet Matawin provide national middle-market buyout exposure, the anchor-investment strategy explicitly targets local and regional capital deployment in the communities the health system serves.