MainePERS commits to Advent International GPE IX

The US public pension has backed Advent International's ninth series buyout fund.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, United States
AUM: $14.50bn
Allocation to alternatives: 42.50%
Bitesize: $50-100m

Maine Public Employees Retirement System (MainePERS) has agreed to commit $50 million to Advent International GPE IX, as confirmed in an email to Private Equity International. MainePERS previously committed $30 million to the seventh fund in the series and $50 million to the eighth.

The $14.50 billion US public pension has a 15.0 percent current and target allocation to private equity.

As illustrated below, MainePERS tends to focus its private equity investments on funds with buyout or venture capital / growth equity strategies. The pension has made several commitments to private equity funds with a 2018 and 2019 vintage, totalling $720 million.

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