Maryland SRPS backs FPA Core Plus Fund VI

The $65 billion Maryland State Retirement and Pension System (SRPS) has made a $100 million re-up investment in the FPA Core Plus Fund VI fund.

FPA Core Plus Fund VI is a closed-end fund managed by FPA Multifamily. The fund was launched in May 2022 with a fundraising target of $1 billion. FPA Core Plus Fund VI will make direct investments in core and core-plus multifamily and mixed-use real estate in major markets across the United States.

The fund’s predecessor, FPA Core Plus Fund V, closed in June 2020 with $970 million in equity commitments, exceeding its original target of $750 million. At the time of the close, Fund V was the firm’s largest fund to date. Fund V invests in multifamily properties in top-tier demographic neighborhoods in and around major metropolitan areas in the United States.

Maryland SRPS previously committed $100 million to FPA Core Plus Fund V in 202