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.
- 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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