MainePERS approves $80m in commitments

The US public pension has backed two real estate focused funds.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, United States
AUM: $14.20bn
Allocation to alternatives: 38.50%

The Maine Public Employees Retirement System investment advisory board has agreed to commit $40 million to Blackstone Real Estate Partners Fund IX and $40 million to Westbrook Real Estate Fund XI. The real estate funds are managed by Blackstone and Westbrook Partners.

The $14.20 billion US public pension has a 10.0 percent target allocation to private equity real estate that currently stands at 7.7 percent.

As illustrated below, the pension has made two commitments to private equity real estate in 2018, which combined constitute $80.00m.

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