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Maine System Commits $90M To PE Funds

The Maine Public Employees Retirement System has awarded three mandates worth about $90 million.

The Maine Public Employees Retirement System has awarded three mandates worth about $90 million, Pensions & Investments reports. The system has committed $30 million each to theHIG Growth Buyouts & Equity Fund II, the Oaktree European Principal Fund III and the Berkshire Partners Fund VIII.

Investment consultant Cliffwater assisted the fund’s investment team in the process. The commitments will be funded by reducing the plan’s exposure to public markets. The $10.8 billion fund is seeking to allocate 5% of its assets to private equity.

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