Institution: Maryland State Retirement and Pension System
Headquarters: Baltimore, United States
AUM: $66.7 billion
Allocation to alternatives: 29.3%
Maryland State Retirement and Pension System has approved $325 million-worth of commitments to private debt, according to its September and October board meeting documents.
The commitments comprised two funds: $200 million to AG Potomac Fund and $125 million to FP Credit Partners II. The former focuses on corporate credit solutions and is managed by Angelo Gordon & Co. FP Credit Partners II is an opportunistic credit fund managed by Francisco Partners.
The $66.7 billion pension fund allocates 10.4 percent to its credit/debt strategies, with private debt being housed within this asset class. Maryland predominately focus on funds situated in North America but with varying strategies.
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