News & Analysis

MainePERS confirms $100m commitment

The US public pension has backed Angelo Gordon's private financing subsidiary's Twin Brook Capital Partners' fourth direct lending fund.

-

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, United States
AUM: $14.90bn
Allocation to alternatives: 44.50%
Bitesize: $50-100m

Maine Public Employees Retirement System has approved a $100 million commitment to AG Direct Lending Fund IV, a contact at the pension informed Private Debt Investor. Twin Brook Capital Partners’ predecessor fund closed at $2.75 billion in June 2019.

The $14.90 billion US public pension has a 5.0 percent target allocation to private debt that currently stands at 3.30 percent.

As illustrated below, MainePERS has made four commitments to private debt funds with a 2019 vintage, which combined constitute $325 million.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.