MainePERS strengthens partnership with GTCR and SLR Capital

The US public pension has backed GTCR and SLR Capital Partner's latest funds.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, US
AUM: $17.95 billion
Allocation to private equity: 19.8%

Maine Public Employees Retirement System approved $175 million in commitments across two private equity funds, a contact at the pension informed Private Equity International. The pension committed $50 million to GTCR Fund XIV and $125 million to SLR Private Credit Fund II.

Fund XIV, managed by GTCR, will invest in North American companies in the TMT, healthcare, financial services and business services sector. The vehicle, launched earlier this month, will seek buyout returns. This commitment is MainePERS’ fourth to GTCR’s fund series – it invested $30 million in GTCR X and $50 million in both GTCR XII and XIII.

The pension’s commitment to SLR Private Credit Fund II marks its first known partnership with SLR Capital Partners. The fund will invest into North American companies across a variety of sectors and is seeking debt returns.

At the meeting, the pension received presentations from Albourne and Cliffwater on their services, as well as observed market trends. Both investment consultants submitted proposals in response to the pension’s recent RFP in August. Albourne and Cliffwater are current frontrunners and the highest scoring investment consultants amongst MainePERS’ IC submissions. The committee has recommended retaining both consultants for its portfolio needs.

The US public pension’s recent fund commitments have predominantly targeted North American vehicles focused on a variety of sectors.

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