Maine Public Employees Retirement System, Augusta, approved three commitments totaling up to $244 million at its board meeting Thursday.
The $15 billion pension fund's board approved commitments of up to $100 million each to Aspect Capital Core Diversified Programme, a trend-following managed futures portfolio, and Owl Rock Capital Corp. III, a middle-market credit fund managed by Owl Rock Capital Partners, and up to €40 million ($44 million) to European buyout fund CVC Capital Partners VIII, said James Bennett, chief investment officer, in an email.
MainePERS previously committed up to $100 million to Owl Rock Capital Corp. and up to €42 million to CVC Capital Partners VII, both in 2017. Aspect is a new manager for the pension fund.
As of March 31, the actual allocations to private equity and alternative credit were 17.8% and 4.7%, respectively; the asset classes have respective targets of 15% and 5%.
The commitments are subject to due diligence, legal review and negotiations.