Baltimore Fire & Police has 8% exposure to secondaries

The Baltimore Fire and Police Employees’ Retirement System has committed to secondaries funds managed by LGT Crown and Greenspring Associates.

The Baltimore Fire and Police Employees’ Retirement System (BCFPERS) has an 8 percent exposure to secondaries, according to its asset allocation report from 31 March.

BCFPERS allocates 7.8 percent of its $2.5 billion of assets to 14 private equity funds. Roughly 8 percent of the fund portfolio is allocated to two secondaries funds.

The latest secondaries fund commitment was made last year. BCFPERS committed $7.5 million to Greenspring Associates Secondaries I, which has a $100 million target, according to PEI’s Research and Analytics division. Nearly $3 million of the commitment had been contributed as of 31 March.

In January 2012, BCFPERS committed $10 million to LGT Capital Partners’ LGT Crown Global Secondaries III, which closed on $2 billion. About $4.4 million of that’ commitment has been contributed.

BCFPERS doesn’t have current plans to commit to a secondaries fund anytime soon, director of communications Amy Baskerville said in an email to Secondaries Investor.

“While there are no current plans the Board of Trustees is always analysing, reviewing and discussing options with their investment advisor Daniel Holms of Summit Strategies Group,” Baskerville said.