MainePERS agrees $60m commitment

The US public pension has backed Summit Partners' tenth growth equity fund.

Institution: Maine Public Employees Retirement System
Headquarters: Oak Brook, United States
AUM: $14.0bn
Allocation to alternatives: 37.70%

Maine Public Employees Retirement System (MainePERS) has approved a $60 million commitment to Summit Partners Growth Equity Fund X, a contact at the pension informed Private Equity International. Summit Partners’ tenth fund of the series continues to focus on diversified growth equity investments in North America.

The $14.0 billion US public pension has a 15 percent current and target allocation to private equity.

As illustrated in the charts below, MainePERS has made eight commitments to private equity funds with a 2018 vintage which combined constitute $395 million.

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