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How Maryland’s pension became a billion-dollar business for Wall Street

While the assets held by the Maryland State Retirement and Pension System have more than doubled to $64 billion in the past 20 years, the investment management fees the system pays have skyrocketed 25 times to $1 billion a year as it’s pursued a more active investment strategy with increased exposure to private equity funds.

Source: The Baltimore Sun Politics Section State of Maryland

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