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.
