5 more advisers and 1 more dated event

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Maryland State Retirement and Pension System

State retirement system· Baltimore, Marylandsra.maryland.gov

State retirement system, based in Baltimore, Maryland, reporting $69B in assets.

Composed from this allocator's classification, location and filed figures.

Assets
$69B
Private allocation
40.0%
Open searches (1)Allocation policyConsultants
As of · the latest dated event for this allocator; each figure carries its own filing or report date

What matters now

  1. 1 search
    open now

    1 open manager search: Global Custody Services search.

    opened 18 Aug 2026 · A mandate the plan is hiring for now; a manager can still respond.

    Factthe plan's own search notices and minutesFor managers in the searched asset class, consultantsOpen searches →
  2. Consultant
    changed

    Maryland State Retirement and Pension System (MSRPS) selects Funston Advisory Services as general consultant

    18 Aug 2026 · A new consultant reviews the manager line-up and brings its own shortlist.

    Factboard minutes or Form 5500 Schedule CConsultants →
  3. 40%
    private markets target

    Changed its allocation policy last month.

    A new target moves money between asset classes before any manager is hired.

    Factthe plan's investment policyPolicy →
Size, funding, policy and commitments, with their basesState retirement systemShow
State retirement system
Assets
$69B
Total assets, Jun 30, 2023 derived
Funded
not on record
not filed
Private markets target
40.0%
policy Jun 30, 2025
Commitments
0
none on the tape
Invests for: Maryland Teachers' Retirement and Pension Systems, Maryland Employees' Retirement and Pension Systems, Maryland State Police Retirement Systemand 1 more related allocators
Allocation policy
ACFR, as of Jun 30, 2025
Asset class (as printed)BucketTargetRangeActualGapBasis
Cash/Cash EquivalentsCash0.0%reported sra.maryland.gov
Inflation-Linked BondsFixed income4.0%reported sra.maryland.gov
Long-term Government BondsFixed income10.0%reported sra.maryland.gov
Securitized/Corporate BondsFixed income6.0%reported sra.maryland.gov
Absolute ReturnHedge / diversifiers6.0%2% to 10%reported sra.maryland.gov
Natural Resources/InfrastructureInfrastructure5.0%reported sra.maryland.gov
Multi AssetsMulti-asset0.0%reported sra.maryland.gov
International EmergingOther6.0%reported sra.maryland.gov
Emerging Market DebtPrivate credit1.0%reported sra.maryland.gov
High Yield Bonds/Bank LoansPrivate credit8.0%reported sra.maryland.gov
Private EquityPrivate equity16.0%reported sra.maryland.gov
International Developed EquityPublic equity11.0%reported sra.maryland.gov
U.S EquityPublic equity17.0%reported sra.maryland.gov
Real EstateReal estate10.0%reported sra.maryland.gov
Consultants and advisers
8 firms

+5 more consultants and advisers advise this allocator

Every name, record and relationship behind this count, with the source on each.

Includes 3 days of DFX Intelligence. Then $249/month unless canceled.

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.
What changed
6 events
  • Aug 18, 2026Policy updated
    Maryland State Retirement and Pension System (MSRPS) adopts a policy change: Investment Policy Manual
    sra.maryland.gov
  • Aug 18, 2026Search opened
    Maryland State Retirement and Pension System (MSRPS) opens a Global Custody Services search
    sra.maryland.gov
  • Aug 18, 2026Consultant changed
    Maryland State Retirement and Pension System (MSRPS) selects Funston Advisory Services as general consultant
    with Funston Advisory Services, LLCsra.maryland.gov
  • Jun 23, 2026Policy updated
    Maryland State Retirement and Pension System (MSRPS) adopts a policy change: asset class roles and ranges
    sra.maryland.gov
  • Mar 17, 2026Policy updated
    Maryland State Retirement and Pension System (MSRPS) adopts a policy change (see the minutes)
    sra.maryland.gov

+1 more dated event

Every name, record and relationship behind this count, with the source on each.

Includes 3 days of DFX Intelligence. Then $249/month unless canceled.

Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
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
1 reading
Total assets
$69B Jun 30, 2023 derived DFX analyst
Provenance
Identifiers: none on file
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 29, 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.

Not yet on record: funded ratio, fund commitments.

Record history

8 dated events on the change ledger, latest first
  • Policy updated
    2026-08-18source
  • Search opened
    2026-08-18source
  • Consultant changed
    2026-08-18source

+5 more changes on this record's ledger

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The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.

›Connections

every published relationship on the graph

+13 connections on the graph

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