Baltimore Fire & Police Allocates $125M to Real Assets, Private Equity

The Baltimore City Fire and Police Retirement System has committed $125 million to three new investments, according to the February 21 board meeting.

$15 million was committed to Brookfield Infrastructure Fund V. In addition, $10 million was committed to Carlyle Renewable and Sustainable Energy Fund II.

In private equity, $70 million was allocated to Manulife Co-Investment Partners III. An additional $30 million was allocated to a separately held, dedicated limited partnership, managed by Manulife.

As of December 31, 2022, the $3.1 billion pension fund allocates 4.9% to real assets and 12.5% to private equity. They have target allocations of 5% and 11% respectively to the asset classes.

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