Maine Public Employees Retirement System, Augusta, committed up to $124.6 million total to four alternatives funds, pending final due diligence, legal review and successful negotiations, said Andrew Sawyer, chief investment officer, in an e-mail.
The $12.3 billion pension fund committed up to $50 million each to ACM Fund II, managed by ACM Management Co., and Orion Mine Finance Fund II, which looks to make debt, equity and production-linked investments in mid- to later-stage mine projects.
Additionally, the pension fund committed up to £10 million ($14.6 million) and $10 million, respectively, to Inflexion Supplemental Fund IV, managed by Inflexion Private Equity Partners, and ABRY Heritage Partners, managed by ABRY Partners.
The ACM and Orion commitments will fall under the pension fund's natural resources portfolio, and Inflexion and ABRY under private equity.
The pension fund has a 5% and 10% target to natural resources and private equity, respectively, according to its website.
