Searches and Hires

MainePERS commits $280 million to 3 funds

Maine Public Employees Retirement System, Augusta, committed about $280 million in total to three alternative funds, said Andrew Sawyer, chief investment officer, in an email.

At its Nov. 8 meeting, the board of the $14.2 billion system agreed to commit up to $200 million to FORT Global Contrarian, a commodity trading adviser fund, managed by FORT Investment Management.

The board also agreed to commit $40 million each to two opportunistic real estate funds: Blackstone Real Estate Partners Fund IX, managed by Blackstone Group; and Westbrook Real Estate Fund XI, managed by Westbrook Partners.

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