Insight

MainePERS make $50m commitment

The Augusta-based pension has committed to Tenex Capital Managements forth fund.

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Institution: Maine Public Employees Retirement System
Headquarters: Augusta, US
AUM: $19.3 billion
Allocation to private equity: 18%

Maine Public Employees Retirement System has announced a new private equity commitment during its recent board meeting.

The US pension fund committed $50 million to Tenex Capital Partners Fund IV. The fund will target buyout opportunities across a variety of sectors in the North American region specifically focusing on investments in the US. The fund is targeting $1.6 billion. Tenex Capital Management’s previous fund closed above its $1 billion target on $1.2 billion.

MainePERS are planning on making $1 billion worth of commitments to buyout, growth and venture strategies over the next 3 years. The pensions recent commitments have tended to focus on buyout strategies in the North American region, as shown below.

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