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December 01, 2017 12:00 AM

Maryland allocates $415 million to 3 managers

Hazel Bradford
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    Maryland State Retirement & Pension System, Baltimore, allocated a total of $415 million to three managers.

    RhumbLine Advisers was hired to manage a total of $300 million — $150 million in an S&P Global Natural Resources index fund and $150 million in a Dow Jones Brookfield Global Infrastructure Composite index fund. The RhumbLine allocation, which is part of the pension fund's real-return portfolio, was funded from cash, spokesman Michael Golden said.

    In private equity, Maryland committed $40 million to Frazier Life Sciences IX, a fund managed by Frazier Healthcare Partners that invests primarily in therapeutics-focused companies developing and commercializing innovative biopharmaceuticals that address important unmet medical needs. The pension fund also committed $75 million to Frontier Capital V, a growth equity fund managed by Frontier Capital that invests in the technology and business sectors in the U.S.

    The $50.8 billion pension fund announced the allocations, which were approved in late October, at its Nov. 21 investment committee meeting.

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    December 12, 2022 page one

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