Maine Public Employees' Retirement System, Augusta, committed up to $60 million to Advent Global Private Equity VIII, a developed markets fund managed by Advent International, said Andrew Sawyer, chief investment officer, in an e-mail.
The $12.3 billion pension fund previously committed up to $30 million to buyout fund Advent Latin American Private Equity Fund VI in September 2014.
The pension fund also made a $20 million follow-on commitment to Summit Partners Venture Capital Fund IV. The pension fund previously committed up to $20 million to the fund in June.
Separately, the board also approved the addition of Vanguard Group's FTSE social index fund as an investment option in the MaineSTART 401(a), 457, and 403(b) plans, which have $26 million in combined assets. The new option gives the plans a total of 10 investment options, all managed by Vanguard Group.