MainePERS make $50m commitment

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

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.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments