Baltimore Fire and Police searching for PE managers

The US public pension is aiming to reach its target allocation to the asset class.

Institution: Baltimore City Fire and Police Employees’ Retirement System
Headquarters: Baltimore, United States
AUM: $2.76bn
Allocation to alternatives: 26.8%
Bitesize: $10-50m

Baltimore City Fire and Police Employees’ Retirement System is on the lookout for private equity fund managers to award a $40 million mandate, according to the pension’s February 2020 board meeting minutes.

Successful procurement of a private equity fund manager will enable Baltimore to fulfil its 2020 private equity pacing plan.

The $2.76 billion US public pension has an 11.0 percent target allocation to private equity that currently stands at 8.90 percent. Baltimore Fire and Police recently increased its allocation to the asset class by 0.40 percentage points from 8.50 percent in January 2020.

As illustrated below, the pension has made seven commitments to private equity funds with a 2018 or 2019 vintage, which combined constitute $95 million.

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