Maine Public Employees Retirement System (MainePERS), a pension fund, signed off on a $100 million infrastructure investment with Brookfield Asset Management (BAM).
The pension plan allocated “up to $100 million with a 10 percent pacing plan” to Brookfield Infrastructure Fund II (BIF II), the pension disclosed in a document. Andrew Sawyer, chief investment officer (CIO) for Maine, did not respond to a voicemail message seeking comment.
Looking forward, MainePERS is eyeing an allocation to the China Car Parks Investment Fund, a vehicle managed by private equity firm real estate manager LimeTree Capital.
Under CIO Sawyer, who joined MainePERS in 2007, the $11 billion pension fund has cultivated a formidable infrastructure investment platform, allocating more than $550 million to the asset class.
In 2012, the plan shored up its relationship with Global Infrastructure Partners (GIP), investing $75 million in Global Infrastructure Partners II to complement an existing commitment to Global Infrastructure Partners I.
In addition to GIP, Maine in 2012 also committed $75 million to Meridiam Infrastructure North America II, like GIP II a marquee-name fund in its own right.
MainePERS has invested $50 million with Alinda Infrastructure Fund II, $50 million with Carlyle Infrastructure Partners and $50 million with First Reserve Energy Infrastructure Fund. Maine also has a $75 million commitment to the KKR Infrastructure Fund.
BAM is raising $5 billion for BIF II. The fund in March secured a $100 million commitment from the New Mexico State Investment Council.