The board of the $10.2 billion Maine Public Employees Retirement System, Augusta, approved a commitment of up to $30 million to the KKR North American Fund XI, confirmed Andrew H. Sawyer, chief investment officer.
The board also hired Cliffwater as Maine's infrastructure consultant, replacing Hewitt EnnisKnupp. With Cliffwater already serving as Maine's private equity consultant, Mr. Sawyer noted that the board was simply looking to consolidate the number of consultants serving the system.
MacKenzie Lucas, a spokeswoman for Hewitt EnnisKnupp, declined to comment.
The MainePERS board approved a 5% target allocation to infrastructure in June 2008. Mr. Sawyer said the system currently allocates 1.8% of its portfolio to infrastructure.