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MainePERS agrees $50m commitment

The US public pension has backed Angelo Gordon's fourth series value-add real estate fund.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, United States
AUM: $14.90bn
Allocation to alternatives: 44.50%
Bitesize: $50-100m

Maine Public Employees Retirement System has agreed to commit $50 million to AG Net Lease Fund IV, a contact at the pension informed PERE. Angelo Gordon’s fourth series value-add fund is targeting property investments across North America and Western Europe.

The $14.90 billion has a 10.0 percent target allocation to real estate that currently stands at 9.40 percent.

As illustrated below, MainePERS has made five commitments to real estate funds with a 2019 vintage, which combined constitute $191 million.

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