Maine Public Employees' Retirement System, Augusta, approved a commitment of up to $35 million to High Street Real Estate Fund VII.
The $17.6 billion pension fund's board approved the commitment to the real estate fund managed by High Street Equity Advisors at its July 8 meeting, said James Bennett, chief investment officer.
The commitment is subject to final due diligence, legal review and negotiations, Mr. Bennett said.
MainePERS previously committed up to $25 million to High Street Real Estate Fund VI in 2018.
As of March 31, the pension fund's actual allocation to real estate was 8.3%; the target is 10%.