Searches and Hires

Maine Public Employees allocates $600 million to risk premium funds

Maine Public Employees Retirement System's board approved two new commitments totaling up to $600 million, said Andrew Sawyer, chief investment officer, in an email.

The $13.9 billion Augusta-based pension fund approved allocating up to $300 million each to hedge funds AQR Liquid Enhanced Alternative Premia Fund, managed by AQR Capital Management, and Windham Risk Premia Fund, managed by Windham Capital Management.

The commitments fall within the pension fund's risk diversifiers asset class, which has a target of 10%. As of Sept. 30, the actual allocation was 4.9%.

The commitments are subject to due diligence, legal review and negotiations.