Maryland State Retirement and Pension System (SRPS) has approved $100m (β¬95.2m) worth of real co-investments with existing managers, according to the pension fundβs meeting document.
The pension fund, which revealed the commitments in its meeting document, told ΒιΆΉΣ³» Real Assets that the βcapital represents multiple co-investments across an equal number of general partners,β but declined to disclose the names of the managers and funds involved when asked.
Maryland SRPSβs 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 Multifamilyβs 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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