Minnesota pension system’s investment chief to leave next year

A top 20 US pension system will lose its leader in 2022, with the board beginning a search soon.

Since 2013, Mansco Perry has overseen the investment program for the Minnesota Board of Investments. But he’s decided to step down from the perch next year.

Perry announced his plans at the Board of Investments meeting Dec. 1, saying he’d likely leave toward the end of the second quarter when the system’s fiscal year ends.

The system, with $127.9 billion in assets, will begin the search for Perry’s replacement in a “timely manner.”

Perry over saw Minnesota’s investment program, where private markets make up 27 percent of the overall portfolio and within the private market bucket, PE makes up 66 percent.

Perry joined in 2013 after working as CIO of Macalester College and the Maryland State Retirement Agency. He previously worked for Minnesota in the 1990s as an assistant executive director.

“The people of Minnesota will be without an outstanding public servant,” according to Minnesota Gov. Tim Walz, after Perry’s announcement during the meeting. “Our pensions are as strong as any in the nation. I personally thank you for your service.”