MainePERS increases private debt allocation

The US public pension has boosted its allocation to the asset class.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, United States
AUM: $14.80bn
Allocation to alternatives: 44.50%
Bitesize: $50-100m

Maine Public Employees Retirement System (MainePERS) increased its allocation to private debt from 3.0 percent as of the end of Q1 2019 to 3.30 percent as of the end of Q2 2019, according to the pension’s recently released quarterly asset allocation information.

MainePERS also increased its allocation to three other alternative asset classes between Q1 and Q2 2019: real estate allocation rose from 8.30 percent to 9.40 percent; infrastructure from 11.50 percent to 11.90 percent; and private equity from 14.5 percent to 15.10 percent.

The $14.80 billion US public pension’s current allocation to private debt is 1.70 percentage points below its 5.0 percent target.

As illustrated below, MainePERS has made two commitments to private debt funds with a 2019 vintage, which combined constitute $175 million.

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