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Baltimore Fire and Police commits $45m to real estate

The US public pension has backed North American-focused debt and opportunity funds.

Institution: Baltimore City Fire and Police Employees’ Retirement System
Headquarters: Baltimore, United States
AUM: $2.86 billion
Allocation to alternatives: 25.7%

Baltimore City Fire and Police Employees’ Retirement System has committed to three real estate funds, according to a September 2020 board meeting document.

The institution invested up to $15 million to Torchlight Debt Opportunity Fund VII, which is targeting $1.5 billion and focuses on multiple sectors in North America; $15 million to Dalfen Last Mile Industrial Fund IV; and $15 million to IPI Data Center Partners Fund II, which invests in multiple sectors in North America.

Real estate makes up 8.8 percent of the $2.86 billion pension’s total portfolio. BCFPERS has committed between $15 million to $30 million per fund to real estate.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.