Maryland State Retirement and Pension System (SRPS) has approved $100m (€95.2m) worth of real co-investments with existing managers, according to the pension fund’s meeting document.
The pension fund, which revealed the commitments in its meeting document, told IPE Real Assets that the “capital represents multiple co-investments across an equal number of general partners,” but declined to disclose the names of the managers and funds involved when asked.
Maryland SRPS’s most recent real estate commitment was a $100m investment into the Heitman Value Partners Fund VI, announced at its May 2024 board meeting.
The Heitman fund, which seeks to raise $2bn, will focus on a diverse range of specialised property types, including self-storage, single-family rental and medical office buildings.
Maryland SRPS also committed $100m to the FPA Core Plus Fund VI, FPA Multifamily’s core-plus US multifamily real estate fund.
As previously reported, FPA Multifamily is seeking to raise $1bn for the fund to acquire apartments that can achieve a net internal rate of returns of 9% to 11%.
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