Baltimore City Fire & Police Retirement System made four new commitments totaling $60 million.
The $2.9 billion pension fund’s board approved the commitments at its Sept. 15 meeting, confirmed spokeswoman Amy E. Baskerville.
Within real estate, the board approved commitments of $15 million each to Dalfen Last Mile Industrial Fund IV, managed by Dalfen Industrial, IPI Data Center Partners Fund II, managed by IPI Partners, and Torchlight Debt Opportunity Fund VII, managed by Torchlight Investors.
As of Sept. 30, the pension fund’s actual allocations to core real estate and non-core real estate were 5.6% and 3.2%, respectively; their respective targets are 4% and 7%.
The board also approved a commitment of $15 million to Nexus Special Situations III, a distressed debt fund managed by Nexus Capital Management.
As of Sept. 30, the pension fund’s actual allocation to private debt was 1.8%; the target is 4%.
Investment consultant NEPC assisted.