Maine Public Employees targets $25 million for Onex private equity fund

Maine Public Employees Retirement System's board approved a commitment of $25 million to ONCAP IV, said Andrew Sawyer, chief investment officer, in an e-mail.

The $12.4 billion Augusta-based pension fund's commitment to the middle-market private equity fund managed by Onex Corp. is subject to due diligence, legal review and negotiations.

Mr. Sawyer's previous commitment to an Onex fund was up to $60 million to Onex Partners IV, a private equity fund that invests in large-scale, value-oriented North American businesses, in 2013.

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