Searches and Hires

Maryland seeks consultant for private asset secondary sales

Maryland State Retirement & Pension System, Baltimore, issued a request for information Tuesday for a consultant for possible secondary sales of private assets.

The $51.9 billion pension fund's private assets include $5.7 billion in private equity, $1.1 billion in private credit, $801 million in private real assets and $783 million in private real estate.

According to the RFI, the pension fund may choose one or more firms to provide the services, or none.

As of Dec. 31, the pension fund's private asset allocation was 11.4% private equity, 8.8% credit and 10.8% real assets, which includes real estate.

Spokesman Michael Golden said this would be the first secondary sale, which is normal for mature private equity programs at state pension systems. Maryland officials have not determined which assets might be sold, and there are no allocation changes planned.

The RFI is available on the pension fund's website. Responses are due by 4 p.m. EST on April 20.