Maryland State Retirement and Pension System (MSRPS) has announced that it has committed $575 million to private debt funds.

MSRPS administers death, disability and retirement benefits for over 412,000 members – including active and former state employees, teachers, police and judges. It has assets under management (AUM) of $65.8 billion.

The investments were $150m to Castlelake Aviation V Stable Yield, $150m to Gramercy Capital Solutions III, $100m to Highbridge Strategic Credit Fund II, $100m to Waterfall Silver Spring Fund and $75m to Hayfin HOF Co-Invest I.

MSRPS has 8.7% of its portfolio now invested in private debt.