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Maine Public Employees earmarks $95 million for 2 funds

Maine Public Employees Retirement System’s board approved two commitments up to $95 million total, said Andrew Sawyer, chief investment officer, in an email.

The $13.3 billion Augusta-based pension fund approved commitments of up to $50 million to Meridiam Infrastructure North America Fund III and up to $45 million to Onex Partners V, a private equity fund managed by Onex Corp., at its board meeting on June 8.

The commitments are subject to due diligence, legal review and negotiations.

The pension fund’s most recent commitment to a Meridiam fund was up to $110 million to Meridiam Infrastructure European III in 2016; its most recent commitment to an Onex Corp. fund was $25 million to ONCAP IV in 2016.