Firms & Funds

Baltimore Fire & Police choose Lexington Partners in latest round of PE funding

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Baltimore, Private equity, Baltimore harbor
  • Assets under management: $2.7 bln
  • PE portfolio: $186 mln
  • PE allocation/target: 6.94 pct, 10 pct target
  • Contact: Amy Baskerville, abaskerville@bcfpers.org

Baltimore Fire & Police Employees’ Retirement System at its June meeting committed to Lexington Partners’ latest flagship.

The system pledged $15 million to Lexington Capital Partners Fund IX, targeting $12 billion. The pool focuses on secondary transactions in Europe and the U.S., Buyouts previously reported.

Baltimore F&P also interviewed HarbourVest Partners and Greenspring Associates, but ultimately chose to invest with Lexington Partners, which met “the needs of the F&P,” said Amy Baskerville, the system’s director of communications.

The board voted to interview two more private equity/secondaries managers for its PE and special situations portfolio for August. Details on the managers were not provided.

In March, the system committed up to $60 million to special situations and secondaries private equity managers.

Baltimore Fire & Police will make PE commitments of up to $80 million every year until 2022 and plans to increase commitments to $100 million for 2023 and 2024 and $125 million for 2025 to 2027, Buyouts reported last year.