Investors - JANUARY 13, 2015

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Maine commits $50m to Blackstone, approves co-investment program

by Reg Clodfelter

The Maine Public Employees Retirement System has committed $50 million to Blackstone Real Estate Partners Fund VIII.

The investment was confirmed by Andrew Sawyer, chief investment officer with MainePERS.

Furthermore, the retirement system has allowed its investment team to make co-investments totaling up to $300 million into private equity and real assets, though it is not known at this time how much of the $300 million each asset class will receive.

BREP VIII has not been formally announced, though the fund is reportedly seeking a $13 billion haul, which would leave it just shy of its predecessor’s record $13.3 billion final close from November 2012. The fund series is focused on opportunistic investments across property types on a global basis.

MainePERS’ $300 million co-investment program was authorized along with a few limitations, namely that co-investments may only be made alongside existing funded commitments, that a maxim

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