MainePERS confirms $30m commitment

The US public pension has backed Three Valley Copper's third credit fund.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, US
AUM: $18.8 billion
Allocation to alternatives: 40.8%

Maine Public Employees Retirement System approved a $30 million commitment to Sprott Private Resource Lending III, a contact at the pension informed Private Debt Investor. The commitment is subject to final due diligence by the pension fund.

The fund, managed by Three Valley Copper, will invest in North American companies and seek subordinated/mezzanine debt returns.

The US public pension’s recent fund commitments have predominantly targeted North American vehicles focused on a variety of sectors.

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