Maryland State Retirement & Pension System, Baltimore, allocated $500 million from August through October, according to board documents.
In public equities, the $70.4 billion pension fund hired Haven Global Partners to manage $100 million in international developed ex-U.S. It also hired five firms to manage U.S. small cap strategies: Riverwater Partners to manage $61.5 million; Bridge City Capital to manage $56.4 million; Dean Capital Management to manage $52.2 million; Tieton Capital Management to manage $47.8 million; and Bosun Asset Management to manage $26.9 million. Lastly, it hired Peapod Lane Capital to manage $20.7 million in U.S. micro cap.
In credit/debt, Maryland committed $75 million to Emso Private Credit Fund 3, a credit hedge fund managed by Emso Asset Management.
And in private equity, the pension fund committed $60 million to Frazier Healthcare Growth Buyout Fund XI, middle-market buyout fund focused on the healthcare industry, managed by Frazier Healthcare Partners.
As of Sept. 30, the pension fund’s actual allocation was 31.5% public equities, 20.9% private equity, 16.5% rate-sensitive assets, 14% real assets, 9.5% credit, 5.8% absolute return, 0.4% multiasset strategies and the rest in cash and overlays.
