BCFPERS approves $25m in commitments

The US public pension has backed two private debt funds.

Institution: Baltimore City Fire and Police Employees’ Retirement System
Headquarters: Baltimore, United States
AUM: $2.74bn
Allocation to alternatives: 36.90%
Bitesize: $10-50m

Baltimore City Fire and Police Employees’ Retirement System (BCFPERS) has agreed to commit $15 million to Permira Credit Solutions III and $10 milion to The Värde Fund XIII, a contact at the pension informed Private Debt Investor. Permira’s fund is focused on the origination of senior debt, whereas Värde’s fund targets the acquisition of distressed debt.

The $2.74 billion US public pension has a 3.0 percent target allocation to private debt that currently stands at 0.70 percent.

As illustrated in the charts below, BCFPERS has made three commitments to private debt funds with a 2018 or 2019 vintage, which combined constitute $41 million.

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