Maine Public Employees Retirement System, Augusta, hired Cambridge Associates as general investment consultant, said Andrew Sawyer, chief investment officer, in an e-mail.
The $12.8 billion pension fund conducted an invitation-only search in January. Other finalists were NEPC and current consultant Strategic Investment Solutions.
Mr. Sawyer did not provide further information on the reason for the search.
Separately, the pension fund committed up to $200 million to Teays River Investments for an agriculture-focused private equity fund. It is a first-time commitment for the fund.
Also, the pension fund committed up to €60 million ($65.8 million) to buyout fund Charterhouse Capital Partners X. The pension fund made previous commitments to Charterhouse's eighth and ninth funds.
Another commitment of up to $60 million was made to Blackstone Capital Partners VII, a private equity fund managed by Blackstone Group. The pension fund previously committed up to $50 million to Blackstone Real Estate Partners Fund VIII in January.
