Maryland State Retirement & Pension System, Baltimore, committed $404 million to private equity in recent months, and hired other managers to run $500 million in hedge fund, absolute-return and real-return strategies.
Private equity commitments include $50 million to Northstar Equity Partners IV for an Asia growth fund managed by Northstar Advisors; $126.8 million to Bain Capital Europe IV for an upper middle-market buyout fund; $50 million to Roark Capital Partners IV for a U.S. middle-market buyout fund managed by Roark Capital Group; $126.8 million to Bridgepoint Europe V for a midmarket middle-market buyout fund; and $50 million to Frontier Capital for Frontier Fund IV, a U.S. lower-middle-market growth fund.
Other hires and commitments in the past two months were $150 million to Quantum Energy Partners VI, a natural resources fund; $100 million to CarVal Investors’ CVI Credit Value Fund III for a distressed credit strategy; and $250 million to Hudson Bay Capital Management for a multistrategy hedge fund.
As of Oct. 31, the $45 billion fund had allocations of 7.4% private equity, 10% absolute return, 13.7% real return, and 9.9% credit/debt strategies, spokesman Michael Golden said.
