Maryland State Retirement & Pension System, Baltimore, committed $750 million to seven managers in the first quarter of 2019.
According to documents from its Tuesday board meeting, the $52.7 billion system committed $200 million to Whitehorse Liquidity Partners III, a secondary private equity fund of funds.
In absolute return, the system committed $200 million to Standard General Master Fund II, an opportunity fund.
Maryland committed $100 million for Lone Star Real Estate Fund VI, an opportunistic real estate fund focused on opportunities in developed international countries, managed by Lone Star Funds.
The system also committed $100 million to two natural resources funds managed by Energy & Minerals Group — $75 million to its Energy & Minerals Group Fund V and $25 million to its Energy & Minerals Group Fund V Accordion.
In private equity, $70 million was committed to Astorg VII, a middle-market buyout fund managed by Astorg Partners.
The system also committed $50 million to SKY Harbor Capital Management to invest in short maturity, high-yield bonds.
In fixed income, the system committed $30 million to Birch Run Investments to invest in investment-grade corporate bonds.
As of March 31, the pension fund's asset allocation was 50% growth equity, 18% rate sensitive, 14% real assets, 8% absolute return, and 8% credit/debt, 1% multiasset and the rest cash.
