The North Carolina Local Governmental Employees’ Retirement System (LGERS) provides retirement benefits to employees of cities, counties, and other local government entities in North Carolina. With approximately $33 billion in assets, LGERS is a major component of the broader North Carolina Retirement Systems, whose total assets exceed $115 billion.
Investment Strategy
NC LGERS’s assets are pooled with those of other North Carolina retirement systems and managed by the Investment Management Division within the Department of State Treasurer. The combined portfolio is diversified across public equities, fixed income, private equity, real estate, infrastructure, private credit, and other alternatives.
The alternatives program benefits from the combined scale of all North Carolina retirement systems. Private equity commitments span buyout, growth equity, venture capital, and distressed strategies. Real estate investments include core, value-add, and opportunistic funds across property types and geographies. Infrastructure and private credit allocations provide stable income and portfolio diversification.
The Investment Management Division operates with a long-term perspective and emphasizes diversification, manager quality, and cost efficiency across the portfolio.
How to Approach
Fund managers should contact the Investment Management Division within the North Carolina Department of State Treasurer. Since all NC retirement system assets are pooled for investment purposes, engaging the central team covers LGERS and other NC pension systems simultaneously. GPs should present a clear strategy overview, audited performance data, and competitive fee terms.
Frequently Asked Questions
What is NC LGERS's alternatives allocation?
NC LGERS participates in the pooled investment portfolio managed by the North Carolina Department of State Treasurer. The combined portfolio allocates approximately 18% to alternatives including private equity, real estate, infrastructure, and private credit.
Who manages NC LGERS investments?
Investments for NC LGERS are managed by the North Carolina Department of State Treasurer's Investment Management Division. The same team manages investments for the broader North Carolina Retirement Systems, providing scale advantages and access to top-tier managers.
How can GPs engage with NC LGERS?
GPs should direct inquiries to the North Carolina Department of State Treasurer's Investment Management Division in Raleigh. The team evaluates managers for the entire NC retirement system. Outreach should include a fund overview, track record, and strategy description.
