The $2.8 billion Baltimore Fire and Police Employees’ Retirement System has committed $15 million each to three U.S. funds, a spokesperson for the pension fund confirmed in an email.
Baltimore has invested in Dalfen Last Mile Industrial Fund IV, managed by Dalfen Industrial; IPI Data Center Partners Fund II, managed by IPI Partners; and Torchlight Debt Opportunity Fund VII, managed by Torchlight Investors.
The commitments are subject to final contract negotiations.
Dalfen Last Mile Industrial Fund IV opened to investors in 2018. The vehicle will invest in industrial properties in the United States. A fundraising target could not be determined at the time of publication.
IPI Data Center Partners Fund II, which launched earlier this year, is targeting a mixture of stabilized and value-add assets, primarily in the United States. It will also invest in some build-to-suit development projects. The fund is seeking to raise $1.5 billion in capital commitments.
