Maine Public Employees Retirement System approved three new commitments totaling up to $195 million at its meeting Thursday.
The board of the $15.1 billion Augusta-based pension fund approved commitments of up to $100 million to private credit fund AG Direct Lending Fund IV and up to $50 million to real estate fund AG Net Lease Fund IV, both managed by Angelo Gordon & Co., and up to $45 million to buyout fund Wynnchurch Capital Partners V, said James Bennett, deputy chief investment officer, in an email.
MainePERS committed up to $100 million to AG Direct Lending Fund III in 2018 and up to $40 million to Wynnchurch Capital Partners IV in 2014.
As of Sept. 30, the actual allocations to private equity, real estate and alternative credit were 15.6%, 9.5% and 3.5% respectively; their respective targets are 15%, 10% and 5%.
All commitments are subject to final due diligence, legal review and negotiations.