Institution: Baltimore City Fire and Police Employees’ Retirement System
Headquarters: Baltimore, US
AUM: $3.1 billion
Allocations to alternatives: 28.5%
Baltimore City Fire and Police Employees’ Retirement System (BCFPERS) has approved a $30 million commitment to LaSalle Value Partners US IX Fund, according to a press release.
BCFPERS was created to provide retirement allowances and death benefits for the uniformed officers of the police and fire departments of Baltimore City.
BCFPERS previously committed $30 million to LaSalle Income & Growth Fund VIII in 2019.
BCFPERS has a 9.1 percent allocation to private real estate, which comprises $285.74 million in capital. The US public pension currently has a target allocation of 11 percent to the asset class.
As illustrated below, BCFPERS recent real estate commitments are predominantly focused on North America value-add vehicles.
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