Maryland State Retirement and Pension System has invested $275 million in two core-plus real estate funds managed by Black Creek Group and AEW, a spokesperson for the pension fund confirmed in an email.
Maryland committed $200 million to the core-plus Black Creek Industrial Fund (BCIF), and $75 million to core-plus/value-add AEW Senior Housing Investors IV.
BCIF targets industrial, logistics and warehouse assets in the United States, while AEW Senior Housing Investors IV invests in senior housing properties throughout the country.
Black Creek is a new relationship for the system, and Maryland previously committed $50 million to AEW Senior Housing II in 2013.
Maryland has a 13.3 percent allocation to real assets, which includes real estate, and a 14 percent target to the asset class.
