Baltimore City Employees' Retirement System committed $120 million to Clarion Lion Properties Fund.
The $2 billion pension fund's board approved the commitment to the open-end core real estate fund managed by Clarion Partners at its April 20 meeting, spokeswoman Aja Jackson said in an email.
It is the pension fund's first commitment to Clarion.
As of April 30, the actual allocation to core real estate was 12.7%; the target is 11%.
Investment consultant Marquette Associates assisted.
