Baltimore Hires Two for Private Credit Search

The City of Baltimore Employees’ Retirement System has recently disclosed the decision to hire two private credit managers for a direct lending search that was issued last year.

According to meeting minutes from the December 21, 2023 board meeting the Board approved hiring Brightwood Capital Advisors and The Carlyle Group for the search.

$15 million will be allocated to both private credit managers. 

Marquette assisted with the search.

The $2 billion Retirement Fund has a target allocation of 4% to private credit. 

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