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MainePERS boosts real estate allocation

The US public pension has increased its exposure to the asset class.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, United States
AUM: $14.80bn
Allocation to alternatives: 44.50%
Bitesize: $50-100m

Maine Public Employees Retirement System (MainePERS) increased its allocation to real estate from 8.30 percent as of the end of Q1 2019 to 9.40 percent as of the end of Q2 2019, according to the pension’s recently released quarterly asset allocation information.

MainePERS also increased its allocation to three other alternative asset classes between Q1 and Q2 2019: private equity allocation rose from 14.50 percent to 15.10 percent; infrastructure from 11.50 percent to 11.90 percent; and private debt from 3.0 percent to 3.30 percent.

The $14.80 billion US public pension’s current allocation to real estate is 0.60 percentage points below its 10.0 percent target.

As illustrated below, MainePERS has made four commitments to real estate funds with a 2019 vintage, which combined constitute $141 million.

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