Maryland State Retirement & Pension System, Baltimore, invested or committed $345 million to four managers in September and October, according to documents from its Tuesday board meeting.
In private equity, the $54.1 billion pension fund committed $295 million to three managers. The pension fund committed $100 million to Green Equity Investors VIII and $50 million Jade Equity Investors, both buyout funds managed by Leonard Green & Partners. It also committed $100 million Lightspeed Global Opportunity Fund, a venture capital fund managed by Lightspeed Venture Partners, and $45 million to Longitude Venture Partners IV, which invests in biotechnology and medical technology companies and is managed by Longitude Capital.
In absolute return, the pension fund invested $50 million in a sidecar co-investment vehicle managed by Standard General. In February, the pension fund invested $200 million to Standard General Master Fund II, an event-driven hedge fund.
As of Sept. 30, the pension fund's asset allocation was 50.9% growth equity, 19.9% rate sensitive, 12.5% real assets, 9.2% credit/debt, 7.4% absolute return and the rest cash.
