Baltimore Fire and Police boosts private debt target for 2020

The US public pension's target allocation to the asset class has inched up by a percentage point.

Institution: Baltimore City Fire and Police Employees’ Retirement System
Headquarters: Baltimore, United States
AUM: $2.89bn
Allocation to alternatives: 25.60%
Bitesize: $10-50m

Baltimore City Fire and Police Employees’ Retirement System has boosted its target allocation to private debt from 3.0 to 4.0 percent for calendar year 2020, according to the pension’s January 2020 board meeting minutes.

The $2.89 billion US public pension has a 1.30 percent current allocation to private debt.

As illustrated below, Baltimore Fire and Police’s last three commitments to private debt funds have combined for a total value of $41 million. Each of the commitments in question were to 2018-vintage vehicles.

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