The $1.3 billion Baltimore City Employees’ Retirement System is allocating $40 million to three private equity managers, Pensions & Investments reports. The $1.3 billion system will allocate $20 million to Adams Street Partners and $10 million to Summit Partners for a mezzanine debt fund. It has also committed $16 million to RCP Advisors for its private equity fund of funds and $4 million for the RCPDirect Feeder Fund.
Additionally, Prisma Capital Partners, Corbin Capital Partners and Evanston Capital were selected finalists in the system’s hunt for a hedge fund manager to run $25 million. The portfolio’s previous manager, Attalus Capital, was removed because of performance issues and Western Asset Management was also terminated from a $60 million core-plus fixed-income portfolio.
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