DFX Intelligence

Allocator Intelligence

The capital-owner graph behind private markets. Who owns the capital, who decides, how much, under what policy, on whose advice, to which managers, and what changed, with a source and a date behind every row. A target is never an actual, a disclosed holding is never an approval, and an estimate says so.

Corporate pension

Aarp Employees' Pension Plan

Corporate pensionWashington, DC
Assets
$1.6B
Total assets, Dec 31, 2024 reported
Funded
123.7%
Jan 1, 2024
Private markets target
n/a
policy Dec 31, 2024
Commitments
36
12 managers on Schedule C
Plan sponsor: Aarp
Allocation policy
Form 5500, as of Dec 31, 2024
Actual allocation lines without a target (as filed)
  • Interest-bearing cash 0.2%
  • Non-interest-bearing cash 0.2%
  • Corporate debt instruments (other) 5.6%
  • U.S. Government securities 5.1%
  • Partnership/joint venture interests 29.3%
  • 103-12 investment entities 6.5%
  • Common/collective trusts 37.4%
  • Registered investment companies 12.8%
  • Common stock 1.9%
  • Preferred stock 0.0%
Consultants and advisers
9 firms
People
No investment staff or executives have been read for this allocator yet.
Manager roster
4 managers on the commitment tape
From the plan’s own commitment disclosures
From Schedule C (investment management, code 28)
Commitments
36 rows, 0 dated closings
Disclosed holdings (from the plan’s performance or holdings report, as of the report date)
DateFundManagerBucketAmountVintageStatusSource
as of Dec 31, 2024Acadian Acwi Ex US103 12 ieAcadian Asset ManagementPooled vehicles$106M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Arrowsmith Acwi Ex US Alphcollective trustArrowsmith Capital LPPooled vehicles$171M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Collective Trust Government Stifcollective trustBNY MellonPooled vehicles$30.3M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024GQG Partners Global Equity Fund Citcollective trustState Street Bank & Trust CompanyPublic equity$69.2M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Ishares Public Pension Coll Fundcollective trustBlackrock Institutional Trust Company NaPooled vehicles$2.4M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Morgan Stanley Prime Propertycollective trustMorgan StanleyReal estate$50.1M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Msci Acwi Ex USA Sl Fund (zvgm)collective trustState Street Global Advisors TrustPooled vehicles$26.2M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024State Street Msci Canada Smallcollective trustState Street Global Advisors TrustPooled vehicles$303,714 heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024State Street Msci Eafe Smallcollective trustState Street Global Advisors TrustPooled vehicles$2.7M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Ssga Msci Emergingcollective trustState Street Global Advisors TrustPooled vehicles$1.3M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Legal & General Dev Multi-Factor Slcollective trustLegal & GeneralPooled vehicles$66.3M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Ssga Russell 1000 Inx Sec Lend Fundcollective trustState Street - Russell 2000Pooled vehicles$191M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Morgan Stanley Prime Propertycollective trustMorgan StanleyReal estate$54.0M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Msci Acwi Ex USA Sl Fund (zvgm)collective trustState Street Global Advisors TrustPooled vehicles$34.0M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023State Street Msci Canada Smallcollective trustState Street Global Advisors TrustPooled vehicles$361,921 heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Legal & General Dev Multi-Factor Slcollective trustLegal & General Investment MgtPooled vehicles$64.4M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Arrowsmith Acwi Ex US Alphcollective trustArrowstreet Capital LPPooled vehicles$142M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Acadian Acwi Ex US103 12 ieAcadian Asset ManagementPooled vehicles$103M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Collective Trust Government Stifcollective trustBNY MellonPooled vehicles$8.7M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Ishares Public Pension Coll Fundcollective trustBlackrock Institutional Trust Company NaPooled vehicles$11.7M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Ssga Msci Emergingcollective trustState Street Global Advisors TrustPooled vehicles$1.6M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023State Street Msci Eafe Smallcollective trustState Street Global Advisors TrustPooled vehicles$3.5M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023GQG Partners Global Equity Fund Citcollective trustState Street Bank & Trust CompanyPublic equity$65.8M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Ssga Russell 1000 Inx Sec Lend Fundcollective trustState Street - Russell 2000Pooled vehicles$189M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Legal & General Dev Multi-Factor Slcollective trustLegal & General Investment MgtPooled vehicles$65.7M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Arrowsmith Acwi Ex US Alphcollective trustArrowstreet Capital LPPooled vehicles$117M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022State Street Msci Canada Smallcollective trustState Street Global Advisors TrustPooled vehicles$453,340 heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Acadian Acwi Ex US103 12 ieAcadian Asset ManagementPooled vehicles$92.5M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Collective Trust Government Stifcollective trustBNY MellonPooled vehicles$3.9M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Ishares Public Pension Coll Fundcollective trustBlackrock Institutional Turst Company NaPooled vehicles$1.6M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Msci Acwi Ex USA Sl Fund (zvgm)collective trustState Street Global Advisors TrustPooled vehicles$37.7M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Ssga Russell 1000 Inx Sec Lend Fundcollective trustState Street - Russell 2000Pooled vehicles$162M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Morgan Stanley Prime Propertycollective trustMorgan StanleyReal estate$60.6M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022GQG Partners Global Equity Fund Citcollective trustState Street Bank & Trust CompanyPublic equity$55.0M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022State Street Msci Eafe Smallcollective trustState Street Global Advisors TrustPooled vehicles$4.1M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Ssga Msci Emergingcollective trustState Street Global Advisors TrustPooled vehicles$1.6M heldDisclosed holdingaskebsa.dol.gov
Size and funding
33 readings
Total assets
$1.6B Dec 31, 2024 reported Form 5500
$1.5B (2023-12) · $1.3B (2022-12)
Plan assets
$1.5B Jan 1, 2024 reported Form 5500
$1.3B (2023-01) · $1.5B (2022-01)
Net assets
$1.6B Dec 31, 2024 reported Form 5500
$1.5B (2023-12) · $1.3B (2022-12)
Funded ratio
123.7% Jan 1, 2024 reported Form 5500
129.3% (2023-01) · 133.3% (2022-01)
Funding target
$1.1B Jan 1, 2024 reported Form 5500
$1.1B (2023-01) · $986M (2022-01)
Discount rate
5.26% Jan 1, 2024 reported Form 5500
5.35% (2023-01) · 5.51% (2022-01)
Participants
5,429 Jan 1, 2024 reported Form 5500
5,456 (2023-01) · 5,352 (2022-01)
Contributions
$20.0M Dec 31, 2024 reported Form 5500
$45.0M (2023-12) · $45.0M (2022-12)
Benefits paid
$45.8M Dec 31, 2024 reported Form 5500
$41.4M (2023-12) · $37.3M (2022-12)
Net investment income
$106M Dec 31, 2024 reported Form 5500
$169M (2023-12) · $-144M (2022-12)
Investment management fees
$8.1M Dec 31, 2024 reported Form 5500
$6.3M (2023-12) · $5.2M (2022-12)
Form 5500 filings
3 plan years
Plan yearParticipantsAssets (SB market)Funding targetFTAPTotal assets (H)Partnerships / JVMaster trustReal estate
2024 to Dec 31, 20245,429$1.5B$1.1B123.7%$1.6B$479Mn/an/a
2023 to Dec 31, 20235,456$1.3B$1.1B129.3%$1.5B$409Mn/an/a
2022 to Dec 31, 20225,352$1.5B$986M133.3%$1.3B$358Mn/an/a
Service providers and investment entities as filed (Schedule C and D, latest year first)
What changed
36 events
  • Dec 31, 2024Manager relationship started
    Axium Infrastructure appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Axium Infrastructureaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Stepstone Vc Second Fund VI LP appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Stepstone Vc Second Fund VI LPaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    HPS Special Situat Opport Fund II appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with HPS Special Situat Opport Fund IIaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Coalesce Capital Fund I LP appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Coalesce Capital Fund I LPaskebsa.dol.gov
  • Dec 31, 2024Manager relationship endedinference
    Axium Infrastruture no longer appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Axium Infrastrutureaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Eighth Cinven Fund (no. 2) LP appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Eighth Cinven Fund (no. 2) LPaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Foundation Capital X LP appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Foundation Capital X LPaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    HPS Specialty Loan Inter'l Fund VI appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with HPS Specialty Loan Inter'l Fund VIaskebsa.dol.gov
  • Dec 31, 2024Manager relationship endedinference
    Pennybacker VI Liberty LLC no longer appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Pennybacker VI Liberty LLCaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Genstar Capital Partners X LP appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Genstar Capital Partners X LPaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Graham Partners VI LP appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Graham Partners VI LPaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Genstar Capital Partners Xi LP appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Genstar Capital Partners Xi LPaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Prologis Targeted US Logistics LP appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Prologis Targeted US Logistics LPaskebsa.dol.gov
  • Jan 1, 2024Funded status changed
    Aarp Employees' Pension Plan funded ratio 129.3% -> 123.7% (2023-01-01 to 2024-01-01)
    askebsa.dol.gov
  • Jan 1, 2024Assets changed
    Aarp Employees' Pension Plan plan assets $1.3B -> $1.5B (+10.7%, 2023-01-01 to 2024-01-01)
    askebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    TA Realty appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with TA Realtyaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Vitruviam IV no longer appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Vitruviam IVaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Genstar Capital Partners, LLC no longer appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Genstar Capital Partners, LLCaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Silversmith Management LP appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Silversmith Management LPaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Axium Infra IV no longer appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Axium Infra IVaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Varde Fund Xiv GP LP appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Varde Fund Xiv GP LPaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Craft Venture Management appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Craft Venture Managementaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Pennybacker VI Liberty LLC appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Pennybacker VI Liberty LLCaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    DCP Capital Partners no longer appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with DCP Capital Partnersaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Axium Infrastruture appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Axium Infrastrutureaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Bank of New York appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Bank of New York Mellonaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Primary Venture Management LLC appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Primary Venture Management LLCaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Prologis no longer appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Prologis, L.Paskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Vitruvian Partners LP appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Vitruvian Partners LLPaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Audax Management Co. LLC appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Audax Management Co LLCaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    DCP Cap Partners appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with DCP Cap Partnersaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Waud Capital Partners VI LP appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Waud Capital Partners VI LPaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Capvest Co-Investor V Scsp appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Capvest Co-Invesotr V Scspaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Gridiron Capital Parallel Fund V LP appears on Aarp Employees' Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Gridiron Capital Parallel Fund LPaskebsa.dol.gov
  • Dec 31, 2023Assets changed
    Aarp Employees' Pension Plan total assets $1.3B -> $1.5B (+15.0%, 2022-12-31 to 2023-12-31)
    askebsa.dol.gov
  • Jan 1, 2023Funded status changed
    Aarp Employees' Pension Plan funded ratio 133.3% -> 129.3% (2022-01-01 to 2023-01-01)
    askebsa.dol.gov
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: EIN-PN 951985500-001
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 15, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.