MSRPS outlines private credit pacing plan

Name: Maryland State Retirement and Pension System
Headquarters: Baltimore, US
AUM: $62.92 billion
Allocation to private credit: 8.2%

Maryland State Retirement and Pension System has outlined its private credit pacing plan for 2023, according to materials from the system’s 21 February investment committee meeting.

Highlights included:

• MSRPS aims to make private debt commitments amounting to $1.5 billion for full-year 2023, while exercising selectivity and flexibility in choosing funds.
• The public pension will diversify its strategic allocation in order to gain exposure to more profitable sectors.
• Maryland also seeks to improve its portfolio performance through co-investments.

Maryland SRPS has a policy allocation of 8 percent towards private credit vehicles. The pension fund’s recent debt commitments include:

• $75 million to Edelweiss India Special Asset Fund III (EISAF III)
• $150 million to Ares Sports, Media and Entertainment Finance Fund
• $100 million to Ares Credit Investment Partnership
• $50 million to Runway Growth Finance Opportunities Fund I
• $100 million to Runway Growth Finance
• $75 million to Shamrock Capital Content Fund III
• $75 million to FP Credit Partners II Co-Investment
• $100 million to Charlesbank Credit Opportunities Fund III

Maryland State Retirement and Pension System’s private credit portfolio is managed by Hamilton Lane, while its overall pension performance is overseen by Meketa.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.