MainePERS backs GTCR and Bain Capital funds

The pension has invested in two funds that focus on the TMT sector in North America.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, US
AUM: $15.25 billion
Allocation to alternatives: 50.9%

Maine Public Employees Retirement System committed up to $90 million to private equity funds from Bain Capital and GTCR at its 15 October meeting, a person close to the pension told Private Equity International. 

The institution invested $50 million in GTCR Fund XIII, which invests in the financial services, healthcare, business services and TMT sectors in North America. The fund is targeting $6.5 billion. The pension previously invested with GTCR’s funds X to XII.

MainePERS also committed $40 million to Bain Capital Venture Fund 2021. The fund invests in the TMT sector in North America.

Private equity makes up 17.8 percent of the system’s total portfolio.

MainePERS focuses on funds in the TMT, financial services and business services sectors.

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