PUBLIC PENSION FUNDS & PENSION BOARDS

Public pension funds manage over $5.6 trillion in assets to provide retirement benefits for approximately 27 million public sector workers. These funds are overseen by boards that set investment policies and ensure legal compliance. A significant portion of private equity investment—one third—is provided by pension funds, which the document argues can lead to social harm in sectors like climate and healthcare, while presenting high financial risk and complex fee structures.

• Public pension funds manage more than $5.6 trillion in assets and provide retirement security for approximately 27 million public sector employees and retirees across city, county, state, and federal levels.
• Public pension fund boards are tasked with ensuring adherence to state and federal laws and regulations, as well as establishing investment policies to manage risk and ensure long-term funding for retirement payments.
• Pension funds provide one third of all private equity investments, a relationship characterized by recurring investment cycles.
• Investments in private equity are described as high-risk with costly, complex fee structures, and are noted for causing harm and displacement of marginalized groups in sectors including climate, housing, education, and healthcare.

APA

Private Equity Stakeholder Project (n.d.). PUBLIC PENSION FUNDS & PENSION BOARDS. https://pestakeholder.org/wp-content/uploads/2024/04/Pension-Fund-FAQ-handout.pdf

Chicago

Private Equity Stakeholder Project. PUBLIC PENSION FUNDS & PENSION BOARDS. n.d. https://pestakeholder.org/wp-content/uploads/2024/04/Pension-Fund-FAQ-handout.pdf.

Wikipedia

{{cite report |author=Private Equity Stakeholder Project |title=PUBLIC PENSION FUNDS & PENSION BOARDS |url=https://pestakeholder.org/wp-content/uploads/2024/04/Pension-Fund-FAQ-handout.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{privateequitystakeholderprojectndpublic, author = {{Private Equity Stakeholder Project}}, title = {{PUBLIC PENSION FUNDS \& PENSION BOARDS}}, institution = {Private Equity Stakeholder Project}, url = {https://pestakeholder.org/wp-content/uploads/2024/04/Pension-Fund-FAQ-handout.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }