Vermont Pension Investment Commission

Vermont Pension Investment Commission

The Vermont Pension Investment Commission manages assets for the Vermont State Retirement System, Vermont State Teachers’ Retirement System, and Vermont Municipal Employees Retirement System. Funding comes from employee and employer contributions. Thomas Golonka chairs the commission. Allocations include private equity secondaries through HarbourVest Dover Street XII and Neuberger Berman Secondary Opportunities Fund VI. Real estate exposure covers industrial, student housing, and data center strategies via Harrison Street Fund X and UBS Trumbull Property Fund. Infrastructure commitments target renewables through Copenhagen Infrastructure Partners Fund V and IFM Net Zero Infrastructure Fund. Farmland investments include the Nuveen Global Farmland Fund with holdings across the United States, Australia, New Zealand, Brazil, Poland, Romania, and Chile. Geographic reach centers on North America with additional positions in Europe, Latin America, and Oceania. The commission maintains a staff led by CIO Eric Henry and Deputy CIO Katie Green. It reported $6.87 billion in assets. Service providers include RVK as general investment advisor and Meketa Investment Group for sustainable investment consulting since 2023. April 2024: Provided testimony to the Vermont legislature on the impacts of mandated fossil fuel divestment. The commission operates as a public pension fund with statutory fiduciary duties separate from state operating budgets. It participates in industry groups including the American Investment Council and Principles for Responsible Investment, where it has been a signatory since 2013.