Baltimore City Fire & Police Employees' Retirement System made two new commitments totaling $25 million, spokeswoman Amy E. Baskerville said in an email.
The $2.7 billion pension fund committed $15 million to private debt fund managed by Permira and $10 million to Varde Fund XIII, a distressed debt fund managed by Varde Partners.
As of March 31, the actual allocation to private equity was 8.2%; the target is 10%.
Investment consultant NEPC assisted.
