Maryland confirms $100m commitment

The pension has backed the ninth fund in AEW's opportunistic series.

Institution: Maryland State Retirement and Pension System
Headquarters: Baltimore, United States
AUM: $56.99 billion
Allocation to alternatives: 26.9%

Maryland State Retirement and Pension System approved a $100 million commitment to AEW Partners Real Estate Fund IX at its November 2020 investment committee meeting, a contact at the pension informed PERE.

The vehicle is targeting $750 million and held a first close in May 2020 at $302 million.

Maryland has an 8.2 percent allocation to private real estate as of 31 October 2020.

The $56.99 billion US public pension’s recent real estate commitments have tended to focus on North American vehicles targeting core-plus and value-add returns.

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