Baltimore Employees Retirement System committed $40 million to Abbott Capital for a private equity fund of funds, its first hire in the asset class, said Thomas Taneyhill, administrator. He said the $1 billion system has also selected a second private equity fund-of-funds manager to run another $10 million, but the name cannot be released until the contracts are finalized next month. Funding will come from domestic fixed income, which has been overweighted. The system will consider committing another $10 million in private equity next year, he said.
The fund also is choosing finalists for a manager to run a $40 million core real estate portfolio, which it plans to hire in the spring. Funding will come from closed-end commingled funds that are being liquidated. Callan Associates is assisting.