MSRPS commits to MetLife Core Property Fund

Baltimore-based pension system has committed $100m to MetLife's debut US-focused real estate fund.

Name: Maryland State Retirement and Pension System
Headquarters: Baltimore, US
AUM: $61.4 billion
Allocation to alternatives: 42%

Maryland State Retirement and Pension System has committed $100 million to MetLife Core Property Fund, according to its Q3 investment committee meeting documents.

Additionally, the Baltimore-based public pension fund is rebalancing its core real estate portfolio in order to diversify and reduce fees.

MetLife Investment Management launched its debut Core Property Fund in November 2013. The open-end vehicle invests in North American real estate with a focus on core properties.

MSRPS allocates 12 percent of its total investment portfolio to real estate, comprising $7.4 billion in capital.

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