Maryland State Retirement and Pension System (SRPS) has for the first time committed to a real estate fund managed by Clarion Partners and a global infrastructure fund managed by I Squared Capital.
The pension fund disclosed in a meeting document that it has approved an initial $500m (€474.4m) to the open-ended Clarion Lion Properties Fund, and participated in the $15bn fundraise by I Squared for the ISQ Global Infrastructure Fund III fund, with a $120m commitment.
The Clarion fund has a strategic overweight to industrial assets, a growing exposure to life science properties and no exposure to regional or super-regional malls.
Clarion declined a request for comment.
Maryland SRPS revealed in the meeting document that it approved a $100m commitment to Abacus Multi-Family Partners Value-Add Fund VI, an Abacus Capital Group fund seeking to raise $1.45bn to acquire garden-style apartments that can generate net internal rate of returns in the mid-teens range.
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