Maryland State Retirement approves $826m in commitments

The Baltimore-based public pension invested in 10 private equity vehicles in Q3 2019.

Institution: Maryland State Retirement and Pension System
Headquarters: Baltimore, United States
AUM: $54.21bn
Allocation to alternatives: 36.30%
Bitesize: $50-100m

Maryland State Retirement and Pension System agreed to commit $826 million across ten private equity funds in Q3 2019, according to the pension’s quarterly investment committee materials.

The commitments comprised of $75 million to Bain Life Sciences II, $100 million to TA XIII, $85 million to Advent GPE IX, AUD100 million ($71 million) to Pacific Equity Partners VI, $35 million each to .406 Ventures IV and .406 Opportunity Fund II, $100 million to Tiger Iron Old Line Fund II, $100 million to Great Hill Partners VII, $75 million to Vistria Fund III and $150 million to CVI Chesapeake Credit Opportunities.

The $54.21 billion US public pension has a 13.0 percent allocation to private equity that currently stands at 13.10 percent.

As illustrated below, the ten private equity commitments confirmed by Maryland State Retirement in Q3 2019 were to funds with varying strategies. Five commitments were to funds with a venture capital / growth equity focus, four were to buyout funds and one was to a mezzanine / debt fund.

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