Maine Public Employees Retirement System, Augusta, is undertaking an asset/liability study that could lead to exposure to alternative investments, including hedge funds, private equity and global real estate, said Andrew Sawyer, CIO of the $11.3 billion system. The system has little exposure to alternatives, with about 3.7% in real estate and 1% committed to infrastructure, he said. They are on the table for consideration, Mr. Sawyer said. System officials want more diversification.
Ennis Knupp, the systems investment consultant, is conducting the study, which it expects to present to the systems board April 10, Mr. Sawyer said.
The systems current allocation targets are 41% U.S. equity, 20% international equity, 30% Treasury inflation-protected securities, 5% real estate and 4% infrastructure.