Maryland State Retirement & Pension System, Baltimore, allocated $993 million to alternatives funds from February through April, board documents from its Tuesday meeting showed.
In real return, the $64.4 billion pension fund committed $300 million to Brookfield Infrastructure Fund V, an infrastructure fund managed by Brookfield Asset Management.
In credit/debt, Maryland committed $125 million to Hayfin Healthcare Opportunities Fund, a health-care credit fund managed by Hayfin Capital Management; an additional $100 million to Taurus Mining Finance Fund II, a mining royalties fund managed by Taurus Funds Management; and $30 million to SLA Marcus Co-Invest, a private credit co-investment fund managed by Silver Lake.
In private equity, the pension fund committed $125 million to TA XV-A, a middle-market buyout fund managed by TA Associates; $90 million to buyout fund Bain Capital Asia Fund V; $85 million to Vistria Fund V, a middle-market buyout fund managed by Vistria Group; $70 million to venture capital fund Institutional Venture Partners XVIII; and $68 million to private equity co-investments.
Spokesman Michael D. Golden in an email declined to provide specifics about the co-investments.
As of March 31, the pension fund's asset allocation was 29.5% public equity, 21.3% private equity, 17.6% rate sensitive, 11% real estate, 8.4% credit, 5.9% absolute return, 5% natural resources and infrastructure, 0.4% multiasset and the rest in cash.