Oregon Public Employees Retirement
PensionOregon · as of 2024
AUM
$100B
Held in U.S. securities
$40B
40% of AUM
Return target
6.9%
Asset allocation policy
Target weights set by the board in the plan's Investment Policy Statement.
| Asset class | Target | $ value |
|---|---|---|
| Public equity | 30% | $30B |
| Fixed income | 25% | $25B |
| Private equity | 20% | $20B |
| Real estate | 12% | $12B |
| Diversifying strategies (alts) | 8% | $8B |
| Risk parity | 5% | $5B |
Holdings overview
Private equity exposure (~20%) is roughly double the peer average. Public equity skews passive; active risk concentrated in private markets, where Oregon has decades of GP relationships.
Board mandates
- Oregon PERS investment authority vested in Oregon Investment Council; treasury serves as staff.
- Notable for its long-running private equity program — among the earliest LPs in KKR funds (1981).
- Tier 1 members guaranteed an 8% credit historically; remaining liability tail still significant.
Source: www.oregon.gov/treasury