Maine Public Employees Retirement System's board approved a commitment of up to $75 million to Taurus Mining Finance Fund II, a natural resources fund managed by Taurus Funds Management, said Andrew Sawyer, chief investment officer, in an email.
The $14 billion Augusta-based pension fund previously committed up to $25 million to Taurus Mining Finance Fund Annex in 2016 and up to $50 million to Taurus Mining Finance Fund in 2014.
As of Dec. 31, the actual allocation to natural resources was 4.8%; the target is 5%.
The commitment is subject to due diligence, legal review and negotiations.
