Maryland confirms $750m in commitments

Institution: Maryland State Retirement and Pension System
Headquarters: Baltimore, United States
AUM: $56.99 billion
Allocation to alternatives: 26.9%

Maryland State Retirement and Pension System approved $750 million-worth of commitments to private equity funds at its November 2020 investment committee meeting, a contact at the pension told Private Equity International.

The commitments comprised $125 million to LLR Equity Partners VI; $100 million apiece to Silver Lake Alpine II, Highbridge Convertible Dislocation Fund, CVI Chesapeake Credit Opportunities and LCM Credit Opportunities 4; $75 million to HCR Potomac, $50 million each to Petershill IV (Co-investment) and Shamrock CCF II Co-Invest I; $30 million to GGV Capital VIII; $13 million to GGV Discovery III; and $7 million to GGV Capital VIII Plus.

Maryland had committed to two of the vehicles in the last 15 months: $150 million to HCR Potomac Fund in January and $150 million to CVI’s Chesapeake fund in September 2019.

The $56.99 billion US public pension has a 15.2 percent allocation to private equity.

Maryland’s recent private equity commitments have targeted a mixture of venture capital and mezzanine funds with either a global or US-centric regional investment focus.

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