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MainePERS confirms $125m commitment

The US public pension has backed Comvest's sixth credit fund.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, US
AUM: $18.8 billion
Allocation to alternatives: 39.2%

Maine Public Employees Retirement System confirmed a $125 million commitment to Comvest Credit Partners VI, a contact at the pension informed Private Debt Investor.

Comvest Partner‘s latest fund launched in March of this year and is targeting $1.7 billion. The fund will focus on corporate opportunities in North America with senior debt returns. Its predecessor, Fund V, closed on $1.3 billion in April 2021.

MainePERS has a 5.1 percent allocation to alternative credits and a 7.9 percent allocation to traditional credit.

As illustrated below, MainePERS’ recent private debt commitments have tended to focus on North American corporate vehicles.

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