MainePERS approves $50m commitment

The US public pension has backed Bain Capital's sophomore property fund.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, United States
AUM: $16.5 billion
Allocation to alternatives: 47.1%

Maine Public Employees Retirement System confirmed a $50 million commitment to Bain Capital Real Estate Fund II at its February 2021 board meeting, a contact the pension confirmed to PERE.

Bain Capital is in market raising capital for its second value-add real estate property fund. Its debut real estate vehicle held a final close at $1.5 billion in July 2019.

MainePERS has a 10 percent target allocation to real estate that currently stands at 9.1 percent.

As illustrated below, the $16.5 billion US public pension’s recent real estate commitments have tended to target vehicles with higher risk-return profiles.

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