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MainePERS commits to Rubenstein Properties Fund IV

The US public pension has backed Rubenstein Partners' fourth North American value-add real estate series fund.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, United States
AUM: $14.50bn
Allocation to alternatives: 42.50%
Bitesize: $10-50m

Maine Public Employees Retirement System (MainePERS) has agreed to commit $30 million to Rubenstein Properties Fund IV, as confirmed in an email to PERE. MainePERS previously committed $30 million to the fund’s predecessor in 2015.

The $14.50 billion US public pension has a 10.0 percent target allocation to real estate that currently stands at 8.20 percent.

As illustrated below, MainePERS has made six commitments to real estate funds with a 2018 and 2019 vintage, totalling $235 million.

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