The Michigan Public School Employees’ Retirement System (MPSERS) provides retirement, health care, and survivor benefits to Michigan’s public school employees, including teachers, administrators, and support staff. With approximately $55 billion in assets, MPSERS is one of the largest teacher retirement systems in the United States.
Investment Strategy
MPSERS assets are managed by the Michigan Bureau of Investments as part of the state’s combined pension portfolio, which exceeds $100 billion. The portfolio is diversified across public equities, fixed income, private equity, real estate, infrastructure, and other alternatives.
The alternatives program benefits from the combined scale of all Michigan retirement systems. Private equity investments span buyout, growth, venture, and distressed strategies. Real estate includes core, value-add, and opportunistic funds. Infrastructure provides stable, inflation-linked returns. The Bureau has been investing in private markets for decades and maintains deep relationships with top-tier managers.
How to Approach
GPs should engage with the Michigan Bureau of Investments in Lansing. The Bureau manages the investment program for all Michigan state retirement plans, so a single relationship provides access to MPSERS and other plan assets. The team evaluates managers through a comprehensive due diligence process focused on performance, strategy, team quality, and alignment of interests.
Frequently Asked Questions
What is MPSERS's alternatives allocation?
MPSERS assets are invested by the Michigan Bureau of Investments, which allocates approximately 18% of the combined state pension portfolio to alternatives including private equity, real estate, and infrastructure.
Who manages MPSERS investments?
The Michigan Bureau of Investments within the Department of Treasury manages investments for MPSERS and other Michigan state retirement systems. The Bureau has a deep alternatives team managing a combined portfolio exceeding $100 billion.
How can GPs engage with MPSERS?
GPs should contact the Michigan Bureau of Investments in Lansing. The Bureau manages alternatives for all Michigan pension systems, so a single relationship covers MPSERS and other state plans. The team evaluates managers on track record, strategy, and terms.
