MSRPS commits $310m to private equity

The US-based pension system committed to three private equity funds.

Name: Maryland State Retirement and Pension System
Headquarters: Baltimore, United States
AUM: $61.4 billion
Allocation to alternatives: 42%

Maryland State Retirement and Pension System (MSRPS) has made commitments of $310 million towards three private equity funds, according to Q3 investment committee meeting documents.

The Baltimore-based public pension fund committed $150 million to Clayton, Dubilier & Rice Fund XII, $90 million to Bain Capital Europe Fund VI and $70 million to TDR Capital V.

Clayton Dubilier & Rice launched Fund XII in May 2022 with a fundraising target of $20 billion. The buyout fund announced its first close in September 2022, with $10 billion in capital raised.

Bain Capital announced Fund VI in December 2021, focusing on industrial, tech, financial, consumer, business and healthcare sectors in Europe. The Boston-based asset manager set a hard-cap of €5 billion for its sixth European buyout fund.

TDR Capital launched its fifth flagship fund in September 2021, with a target size of €4 billion. The buyout fund secured 94 percent of its target amount by August 2022, with a first close of €3.75 billion.

MSRPS allocates 22 percent of its total investment portfolio to private equity, amounting to $13.5 billion in capital.

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