The board trustees of the Maine Public Employees Retirement System, Augusta, approved three commitments of up to $167 million, said James Bennett, the CIO of the $16.7 billion pension system.
The board voted Thursday and the commitments are subject to final due diligence, legal review and negotiations, Mr. Bennett confirmed in an email.
The commitments are to:
- Pathlight Capital Fund II for up to $75 million. Pathlight is a new relationship.
- Charterhouse Capital Partners XI for up to €40 million ($47 million). Charterhouse is an existing relationship.
- Hellman & Friedman Capital Partners X for up to $45 million. Hellman & Friedman is an existing relationship.
The trustees also voted to reduce the pension system's commitment to Twin Creeks Timber by selling up to $25 million of its regional commitment. Mr. Bennett said that the original commitment was $150 million but declined to comment on why the trustees decided to sell part of it.