DFX Intelligence

Allocator Intelligence

The capital-owner graph behind private markets. Who owns the capital, who decides, how much, under what policy, on whose advice, to which managers, and what changed, with a source and a date behind every row. A target is never an actual, a disclosed holding is never an approval, and an estimate says so.

State retirement system

Maryland Employees' Retirement and Pension Systems

State retirement systemstate generalMDcomponent of a larger system
Assets
$74B
Fiduciary net position, Jun 30, 2025 reported
Funded
n/a
not filed
Private markets target
n/a
policy Jun 30, 2025
Commitments
0
none on the tape
Allocation policy
ACFR, as of Jun 30, 2025
Consultants and advisers
7 firms
People
No investment staff or executives have been read for this allocator yet.
Manager roster
No manager relationship is on the tape for this allocator.
Commitments
No fund commitments are on the tape for this allocator. The tape holds the plans that publish their own private-markets reports; a plan that publishes one and is not here is a gap we can close.
Size and funding
58 readings
Total assets
$23B Jun 30, 2024 derived Census ASPP
$22B (2023-06) · $23B (2022-06)
Fiduciary net position
$74B Jun 30, 2025 reported ACFR
$23B (2024-06) · $22B (2023-06) · $21B (2022-06)
Long-term investments
$22B Jun 30, 2024 reported Census ASPP
$22B (2023-06) · $22B (2022-06)
Total pension liability
$11B Jun 30, 2024 reported Census ASPP
$9.5B (2023-06) · $8.4B (2022-06)
Discount rate
6.80% Jun 30, 2024 reported Census ASPP
6.80% (2023-06) · 6.80% (2022-06)
Participants
192,783 Jun 30, 2024 derived Census ASPP
189,158 (2023-06) · 186,033 (2022-06)
Active members
85,101 Jun 30, 2024 derived Census ASPP
81,336 (2023-06) · 78,696 (2022-06)
Beneficiaries
85,479 Jun 30, 2024 reported Census ASPP
84,846 (2023-06) · 83,845 (2022-06)
Benefits paid
$1.8B Jun 30, 2024 reported Census ASPP
$1.7B (2023-06) · $1.6B (2022-06)
Investment expense
$145M Jun 30, 2024 reported Census ASPP
$144M (2023-06) · $189M (2022-06)
What changed
1 events
  • Jun 30, 2024Assets changed
    Maryland Employees' Retirement and Pension Systems fiduciary net position $21.6B -> $22.7B (+5.0%, 2023-06-30 to 2024-06-30)
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: Census PID6 244188
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 15, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.