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MainePERS approves $45m commitment

The US public pension has backed Summit Partners' fifth venture capital fund.

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Institution: Maine Public Employees Retirement System
Headquarters: Augusta, United States
AUM: $14.70bn
Allocation to alternatives: 50.90%
Bitesize: $10-50m

Maine Public Employees Retirement System confirmed a $45 million commitment to Summit Partners Venture Capital Fund V at its May 2020 board meeting, a contact confirmed to Private Equity International.

The $14.70 billion US public pension has a 15.0 percent target allocation to private equity that currently stands at 17.80 percent.

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