Maine Public Employees Retirement System

About Maine Public Employees Retirement System

Maine Public Employees Retirement System's investment portfolio is valued at $19.8 billion as of June 30, 2024, with investments in equities, fixed income, real estate, private equity, infrastructure, real assets, natural resources, agriculture, oil and gas, hedge funds, metal and mining, timber, restructuring, cash, and other alternative asset classes. Its return for the quarter, 1 year, 3 years, 5 years, and 10 years were 1.2%, 8.0%, 5.3%, 8.5%, and 7.5%, compared to the benchmark return of 2.0%, 12.6%, 6.3%, 8.9%, and 7.5%, respectively. As of June 30, 2024, the private equity portfolio was valued at $3.64 billion, representing 18.4% of the total portfolio. This is an increase compared to September 30, 2023, when the private equity portfolio was valued at $3.62 billion. The private equity portfolio is currently overweight compared to the target allocation of 12.5%. Investments in private equity include buyouts, private equity growth expansion, distressed debt, mezzanine, co-investment, direct lending, private debt, diversified private equity, and venture capital fund strategies diversified in geographical locations across the globe, except in Africa. As of June 30, 2024, the infrastructure and natural resources portfolio was valued at $2.37 billion and $990 million respectively. The fund's investments are governed by the executive management team, with Dr. James Bennett serving as Chief Investment Officer. Cambridge Associates serves as LP Consultant.