BCFPERS commits $100m to PE

Baltimore City FPERS announced new private equity commitments in its February board meeting.

Name: Baltimore City Fire and Police Employees’ Retirement System
Headquarters: Baltimore, US
AUM: $3.1 billion
Allocation to private equity: 12.2%

Baltimore City Fire and Police Employees’ Retirement System has made commitments totalling $100 million towards two private equity vehicles, according to its February board meeting minutes.

The Baltimore-based public pension fund committed $70 million to Manulife Co-Investment Partners III and $30 million to BCFPERS Manulife Separate Account.

Manulife Investment Management launched Manulife Co-Investment Partners III in early 2023. The fund, like its predecessors, is expected to follow a co-investment strategy in making equity investments into diversified assets. Manulife’s separate account for BCFPERS also adheres to a co-investment strategy.

BCFPERS allocates 12.2 percent of its total investment portfolio to private equity, amounting to $378.24 million in capital.

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