Maine Public Employees Retirement System, Augusta, approved a pair of alternative investment commitments totaling up to $200 million, confirmed James Bennett, CIO of the $20.2 billion pension fund.
Both commitments were approved at the board's Nov. 14 meeting, and both are subject to final due diligence, legal review and negotiations, according to a board document.
The board approved a commitment of up to $100 million to Garda Fixed Income Relative Value Opportunity Fund managed by Garda Capital Partners. Garda is a new relationship for the pension fund.
The board also approved a commitment of up to $100 million to Brookfield Infrastructure Debt Fund IV managed by Brookfield Asset Management. Brookfield is an existing relationship.
Alternatives account for 57.5% of the pension fund's total assets — a combination of private equity, infrastructure, natural resources, alternative credit, real estate and risk diversifiers.
