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December 4, 2020 (Des Moines, IA) – At its quarterly meeting yesterday, the Iowa Public Employees’ Retirement System (IPERS) Investment Board approved the system’s first internally managed investment program intended to systematically invest in Alternative Risk Premia (ARP). ARP refers to potential rewards from harvesting factor returns, such as valuation, momentum, carry and many others, from multiple global asset classes. IPERS’ goal is to create a diversified return stream from the ARP portfolio that would help achieve the system’s return objectives within its risk budget. The program will start with a relatively modest amount of exposure ($300 million) but could be expanded in the future as the program proves itself.

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March 29, 2021 (Des Moines, IA) – The market value of the Iowa Public Employees’ Retirement System (IPERS) Trust Fund rose to $39.01 billion at the end of December 2020 – up from $34 billion on June 30, 2020 – according to information reported at the March 26, 2021, quarterly meeting of the IPERS Investment Board.

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April 20, 2021 (Des Moines, IA) – In accordance with Iowa Code Chapter 118, the Iowa Public Employees’ Retirement System (IPERS) has issued a request for proposals (RFP) from qualified investment firms to provide investment consulting services for all asset classes.


An evaluation committee consisting of IPERS Investment Board members and staff will evaluate proposals and make a formal recommendation to the 11-member Board. The Board will determine which firm, if any, is successful.

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September 17, 2020 (Des Moines, IA) - At its quarterly meeting today, the Iowa Public Employees’ Retirement System’s (IPERS) Investment Board approved a plan to strategically invest assets of the pension plan’s $35 billion trust fund. The changes were part of the board’s annual asset allocation review. The new plan has expected returns of approximately 7.0% over 30 years which is consistent with IPERS’ liability discount rate assumption of 7.0%.

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June 17, 2021 (Des Moines, IA) – Today the Investment Board of the Iowa Public Employees’ Retirement System (IPERS) approved hiring two new private credit managers. The hirings are in response to the Board’s decision in late 2020 to increase IPERS’ private credit target allocation from 3% to 8%.


IPERS’s current private credit portfolio is largely composed of direct lending strategies. In October 2020 IPERS issued an RFP for managers with expertise in opportunistic credit strategies. Proposals from the 80 respondents that met minimum requirements were broken up into specific areas: multi-strategy, mezzanine, specialty finance, real assets, special situations and other. (Multi-strategy and mezzanine managers were approved at the Board’s meeting in March 2021.)

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October 7, 2020 (Des Moines, Iowa) - Today the Iowa Public Employees’ Retirement System (IPERS) issued an RFP to evaluate and select up to $850 million in opportunistic private credit products. These products are defined as opportunistic private credit strategies that are actively managed in a separately managed account and/or fund structure that makes investments in any of the following private credit categories: mezzanine lending, special situations, specialty finance, real assets credit and multi-strategy.

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June 30, 2021 (Des Moines, IA) – The Government Finance Officers Association has recognized the Iowa Public Employees’ Retirement System’s (IPERS) FY2020 annual financial report with the Certificate of Achievement for Excellence in Financial Reporting. The award is the highest form of recognition in the area of governmental accounting and reporting. This is the 28th consecutive year IPERS has received the honor.

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