Searches and Hires

MainePERS earmarks $190 million to 3 funds

Maine Public Employees Retirement System, Augusta, committed up to $190 million total to three alternative funds, said Andrew Sawyer, chief investment officer, in an email.

At its meeting Thursday, the $14.3 billion MainePERS board agreed to commit up to $100 million to AG Direct Lending Fund III, a private credit fund managed by Angelo Gordon & Co.

It also agreed to commit up to $45 million apiece to Riverside Micro-Cap Fund V, a buyout fund managed by Riverside Co.; and TCV X, a private equity fund that focuses on technology firms managed by Technology Crossover Ventures.

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

MainePERS had an allocation of 12.8% to private equity as of March 31.