Find insights from NCPERS members originally published in our quarterly educational journal. Find out how to submit articles here.
By: Emma Norchet, T. Rowe Price Investment Management, Inc. This is an excerpt from NCPERS Fall 2025 issue of PERSist. More firms are remaining private for longer as doing so enables them to focus on long-term growth initiatives free from some of the burdens public companies face. In fact, the... Continue Reading
Maritime finance offers lenders a distinctive combination of downside protection, liquidity and high cash flow. Structuring senior secured loans as sole debt providers can allow investors to manage risk and capture attractive returns. Continue Reading
By: Nicholas Vician, TerraCap Management This article discusses the current state of the commercial real estate market and why the reset pricing that has occurred over the past couple of years could present an opportunity to generate outsized returns in future years on investments that are made at... Continue Reading
By: Alaina Anderson, William Blair We believe several forces—tariffs that weigh on U.S. household income, shifts in fiscal and economic policy abroad, and evolving macroeconomic conditions—could compress growth differentials between the United States, Europe, Japan, and China. As a... Continue Reading
By: Paul Moghtader and Jason Williams, Lazard Asset Management We believe ongoing macroeconomic and geopolitical uncertainty is driving significant changes in investor sentiment—particularly in the United States, where performance patterns that once seemed unbreakable are being called... Continue Reading
By: Jonathan Cogan and Sarah Siwinski, BlackRock BlackRock's Client Solutions Group analyzed data from over 145 U.S. public pension plans, uncovering key trends in funding, asset allocation and risk, which offers a forward-looking perspective for plan sponsors. This is an excerpt from NCPERS... Continue Reading
This piece discusses investment opportunities within the sports, media, and entertainment industry, providing an overview of the growing global sports market and, in particular, the compelling, athlete-centric opportunity set available to investors. This is an excerpt from NCPERS Summer 2025... Continue Reading
Diversification is supposed to be the only free lunch, but when historical relationships—like the traditionally inverse one between bond and stock prices—breakdown, public pensions must look at what else is on the menu. This article provides a roadmap to help plans determine optimal... Continue Reading
By: Anders Persson, Nuveen The traditional boundaries between public and private lending are rapidly dissolving, creating unprecedented opportunities for investors. The future of credit investing won't be about choosing between public and private markets, but about combining them strategically to... Continue Reading
Artificial intelligence (AI) offers tremendous potential to enhance business operations, drive efficiencies and unlock new opportunities. This article discusses why choosing the right vendor for your organization is a critical decision that requires careful consideration. Continue Reading
Documentation audits, claim deficiencies, and class action program governance are some of the key shareholder recovery challenges pension funds face today. To address this operational friction, plans need the right mix of people, process, and technology to solve routine issues with automation and... Continue Reading
This article highlights how public equity markets have become more concentrated, U.S.-dominated, and driven by intangible-rich technology firms, reducing traditional diversification. Public pension trustees should reassess portfolio construction to address rising concentration risk and consider comp Continue Reading
