Investors - MARCH 14, 2016

Maine PERS commits $160m to real estate and infrastructure

by Zoë Wolff

The $12 billion Maine Public Employees’ Retirement System has committed a total of $160 million to two funds, according to Andrew Sawyer, CIO of the pension fund.

Maine PERS committed $110 million to Meridiam Infrastructure European III. The fund will have a similar focus to that of its predecessor, Meridiam Infrastructure European II, which held a final close of $1.23 billion in March 2012, according to a statement. The fund invested in infrastructure projects across Europe. The pension fund previously invested $75 million in Meridiam Infrastructure North America II in September 2012.

The pension fund also committed $50 million to KKR Real Estate Partners Americas II. The fund is seeking to raise $1.5 billion, according to IREI’s FundTracker database. Maine PERS previously committed $50 million to KKR Real Estate Partners Americas I, the fund’s predecessor, in 2013. The fund held a final close of $1.2 billion in December 2013.

Maine PERS has a 10 percent target allocation to real estate; its actual allocation to the asset class is 7.9 percent.

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