Maryland State Retirement and Pension System (SRPS) has expanded its real estate manager line-up by hiring TruAmerica Multifamily and Brookfield Asset Management for the first time.
The $68bn (€58bn) pension fund is investing $100m each into the TruAmerica Workforce Housing Fund and Brookfield Strategic Real Estate Partners IV funds.
The TruAmerica fund is a US multifamily real estate fund seeking to raise $400m.
Brookfield is seeking a $17bn capital raise for the global opportunistic real estate fund which will be investing in a mixture of properties and real estate operating companies.
Maryland SRPS said in the meeting document that it intends to invest between $600m to $750m in infrastructure each year to enable it to reach the targeted allocation for the asset class over the next five to six years.
The plan will be to invest between $75m and $150m with at least five managers each year.
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