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MainePERS commits $300m to infrastructure

by Zoë Wolff

The $11.8 billion Maine Public Employees Retirement System has committed a total of $300 million to infrastructure, according to Andrew Sawyer, CIO for the pension fund.

The pension fund committed $150 million each to Brookfield Infrastructure Fund III and Global Infrastructure Partners III.

Brookfield Infrastructure Fund III, managed by Brookfield Asset Management, recently received a commitment from the Public School Teachers Pension & Retirement Fund of Chicago. The fund’s predecessor, Brookfield Infrastructure Partners II, held a final close of $7 billion in October 2013. The fund invested in infrastructure, mainly in the United States and Canada. MainePERS committed $100 million to Fund II in July 2013.

Global Infrastructure Partners III, managed Global Infrastructure Partners, will invest in large-scale infrastructure assets globally. The fund is seeking to raise up to $15 billion and has recently received commitments from the Arkansas Teacher Retirement System, the Washington State Investment Board and the El Paso Firemen & Policemen Pension Fund. In March 2011, MainePERS committed $75 million to the fund’s predecessor, Global Infrastructure Partners II, which held a final close of $8.25 billion in September 2012.

MainePERS has a 10 percent target allocation to infrastructure. As of Sept 30, 2015, its actual allocation to the asset class was 5.2 percent.

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