Maine Public Employees' Retirement System, Augusta, approved a new commitment of up to $45 million to KKR North America Fund XIII.
The $17.4 billion pension fund's board approved the commitment to the North American buyout fund managed by KKR & Co. at its May 13 meeting, said James Bennett, chief investment officer.
MainePERS has made commitments to multiple KKR infrastructure, private equity and real estate funds. Its most recent commitment to a KKR private equity fund was $60 million to KKR Americas XII in 2016.
As of March 31, the pension fund's actual allocation to private equity was 18.3%.