News & Analysis

MSRPS outlines real assets pacing plan

The pension released its natural resources and infrastructure pacing strategy in a recent committee meeting.

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Name: Maryland State Retirement and Pension System
Headquarters: Baltimore, US
AUM: $62.92 billion
Allocation to alternatives: 46.2%

Maryland State Retirement and Pension System has outlined its natural resources and infrastructure pacing plan for FY 2023, according to materials from the system’s February 21 investment committee meeting.

Highlights include:

  • MSRPS aims to maintain its target of $1.25 billion toward infrastructure funds;
  • The public pension will commit to around five natural resources and infrastructure strategies with commitments ranging from $100 million to $300 million. As a result, the pension system aims to concentrate its portfolio across fewer managers;
  • MSRPS aims to establish a portfolio of diversified mega and large managers alongside small and mid-cap specialists;
  • The pension fund will expand its exposure to natural resources through traditional energy and renewable assets sectors.

In 2022, Maryland SRPS committed $421.4 million to three natural resources and infrastructure strategies: $300 million to IFM Global Infrastructure Fund; $120 million to ISQ Global Infrastructure Fund III; and $1.4 million to First Reserve Legacy Opportunities Fund.

Maryland State Retirement and Pension System’s natural resources and infrastructure portfolio is managed by Hamilton Lane, a US-based investment consultant.

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