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The Utah Retirement Systems, which manages the benefits for retired Utah public employees including teachers and police officers, was ranked one of the top 10 in the country for its private equity returns.

The URS was ranked eighth after its fund generated 6.2 percent and 13.5 percent returns from its annualized private equity investments over five-year and 10-year spans, respectively.

The study by the Private Equity Growth Capital Council is based on an analysis of 146 U.S. public pension funds with assets greater than $1 billion.

The Massachusetts Pension Reserves Investment Trust had the highest private equity performance, followed by the Los Angeles County Employees Retirement Association and the Teacher Retirement System of Texas.

"Time and again private equity has proven that it's the single best asset class for public pensions, by delivering superior returns over long time horizons," Steve Judge, president and CEO of the PEGCC, said in a statement. "Private equity continues to strengthen the retirement security of the millions of American police officers, firefighters, teachers and administrators who rely on hard-earned pension benefits."

To see more about the study, go to">