Baltimore City Fire & Police Employees' Retirement System approved three new commitments totaling $55 million.
The $3.2 billion pension fund's board approved commitments of $25 million to Grain Communications Opportunity Fund IV, a communications infrastructure fund managed by Grain Management; and $15 million each to Crayhill Principal Strategies Fund III, a private credit fund managed by Crayhill Capital Management, and Nexus Special Situations IV, a distressed debt fund managed by Nexus Capital Management, at its Aug. 15 meeting, recently released meeting minutes show.
The pension fund previously committed $15 million to Grain Communications Opportunity Fund III and $18 million to Crayhill Principal Strategies Fund II, both in 2021, and $15 million to Nexus Special Situations III in 2020.
As of Aug. 31, the pension fund's actual allocations to real assets and private debt were 4.9% and 3.3%, respectively; their respective targets are 5% and 7%.
Investment consultant NEPC assisted.