Maryland State Retirement and Pension System plans to invest between $750m and $1.25bn (€701m to €1.1bn) annually into its infrastructure portfolio to help reach the asset class’s allocation target, according to the pension fund’s board meeting document.
The $68bn pension fund’s infrastructure portfolio currently has a net asset value of $636m, with total commitments reaching $1.4bn. Its current infrastructure allocation stands at 4%, with the potential for an increase to 5% in the future.
Maryland Retirement will consider making infrastructure commitments of $100m to $300m each, across approximately five manager relationships in line with its co-investment strategy.
At the close of 2024, Maryland Retirement made two infrastructure commitments worth $250m in total, to the Terrapin Middle Market Infrastructure Strategic Fund Series I and II funds. This represents a new emerging manager relationship for the pension fund.
To read the latest IPE Real Assets magazine click here.
