Name: Maryland State Retirement and Pension System
Headquarters: Baltimore, US
AUM: $64.36 billion
Allocation to private credit: 3.5%
Maryland State Retirement and Pension System announced its Q1 2023 private debt commitments in its May investment committee meeting.
The public pension fund made the following commitments:
- $100 million to Taurus Mining Royalty Fund
- $125 million to Hayfin Healthcare Opportunities Fund
- $30 million to SLA Marcus Co-invest
Taurus Fund Management‘s first mining royalty fund was launched in March 2023 with a subordinated/mezzanine debt strategy, investing primarily in Australia.
Hayfin Capital Management‘s debut healthcare opportunities fund was launched in July 2021 with a target size of $500 million. As of July 2022, the fund has raised $150 million.
SLA Marcus Co-Invest is managed by Silver Lake, a North American investment firm specialising in venture and subordinated debt.
In its private credit pacing plan for 2023, Maryland SRPS outlined its aim to commit $1.5 billion towards private debt funds. Further, the pension fund sought to diversify its explore to debt strategies while increasing its allocation to co-investments.
Maryland State Retirement and Pension System’s geographical and strategic exposure targets for 2023 are highlighted in the figures below.
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