The Employees’ Retirement System of Georgia (ERS) provides retirement, disability, and death benefits to state employees, members of the General Assembly, and other eligible public employees in Georgia. With approximately $16 billion in assets under management, ERS serves over 100,000 active and retired members.
Investment Strategy
Georgia ERS maintains a diversified investment portfolio across public equities, fixed income, private equity, real estate, and other alternatives. The Board of Trustees sets strategic allocation targets based on actuarial studies and capital market expectations. The internal investment team implements the strategy with support from external managers and consultants.
The alternatives program includes private equity commitments spanning buyout and growth equity strategies. Real estate investments provide diversification and inflation protection through core and value-add funds. Georgia ERS has taken a measured approach to building its alternatives portfolio, prioritizing manager quality and vintage year diversification.
The fund’s investment decisions are guided by a long-term perspective, with a focus on achieving the actuarial assumed rate of return while managing risk within acceptable parameters.
How to Approach
Fund managers should contact the Georgia ERS investment team in Atlanta. The system evaluates managers through a structured process that includes initial screening, due diligence, and Board approval. GPs should present a concise fund overview, audited track record, and clear differentiation from peers. Georgia ERS values transparent fee structures and meaningful GP co-investment.
Frequently Asked Questions
What is Georgia ERS's alternatives allocation?
Georgia ERS allocates approximately 15% of its portfolio to alternatives, including private equity and real estate. The fund has been gradually building its alternatives exposure to diversify returns and reduce public market volatility.
How large are typical commitments from Georgia ERS?
Georgia ERS typically commits between $25 million and $100 million per fund, depending on strategy and fund size. The system invests across buyout and growth equity strategies and maintains a diversified real estate portfolio.
How should GPs engage with Georgia ERS?
GPs should contact the investment team at Georgia ERS in Atlanta or work through the system's investment consultants. Manager evaluation focuses on track record, team stability, investment process, and fee competitiveness. The fund attends industry conferences and accepts direct manager outreach.
