The man in charge of the $28 billion Maryland Retirement System is a private equity enthusiast, and has slowly and quietly directed the pension's investments toward the asset class since he arrived last April.
“I'm a big believer in private equity,” says Mansco Perry, the pension's chief investment officer. “Despite the market, this is a good time to invest.”
In September, the pension increased its target allocation to private equity from 5 percent to 15 percent. Maryland's actual current allocation to private equity stands at 3.5 percent, with about $951 million committed to private equity funds. Maryland also has an actual allocation of 6.8 percent to real estate, with a target of 10 percent.
HOW THE MARYLAND RETIREMENT SYSTEM PORTFOLIO BREAKS DOWN
|Asset Class||Market Value||Actual||Long-Term|
|Total Public Equity||14,327.0||52.0%||37.0%|