MainePERS makes $55m commitment

The US public pension has approved commitments to two real estate funds.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, United States
AUM: $14.00bn
Allocation to alternatives: 37.70%
Bitesize: $50-100m

Maine Public Employees Retirement System (MainePERS) has agreed to commit $55 million to two real estate funds according to the pension’s December Board meeting minutes. MainePERS has agreed to commit $30 million to High Street Real Estate Fund VI and $25 million to Northbridge Strategic Senior Housing Fund II. These funds are managed by High Street Realty and Northbridge Companies respectively.

The $14.0 billion US public pension has a 10.0 percent allocation to real estate which currently stands at 8.2 percent.

As illustrated in the charts below, MainePERS has committed a total of $185 million to five real estate funds across 2018 and 2019.

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