Institution: Maryland State Retirement and Pension System
Headquarters: Baltimore, US
AUM: $63.62 billion
Allocation to alternatives: 27.1%
Maryland State Retirement and Pension System approved a $100 million commitment to JP Morgan Sunbelt Residential Development Fund at its May 2021 investment committee meeting, a contact at the pension informed PERE.
JP Morgan Asset Management‘s value-add residential vehicle is in market targeting $700 million in investor capital.
Maryland has a 10 percent target allocation to real estate that currently stands at 7.4 percent.
As illustrated below, the $63.62 billion US public pension’s recent real estate commitments have predominantly focused on North American property funds targeting either value-add or opportunistic returns.
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