Maine Public Employees Retirement System (Maine PERS) has set a real assets pacing plan for calendar year 2026 at approximately $225m (€193.5m), according to its recent board meeting document.
This capital will be invested in commingled funds in either real estate or infrastructure. The pension fund is planning to de-emphasise natural resources through reduced commitments and potential secondary sales of commitments in closed-end funds, it stated in the document.
The new capital will be focused on the ability of the pension fund to increase its exposure to core assets. This would be accomplished through larger commitments to open-ended vehicles that deploy capital immediately, Maine PERS stated.
Maine PERS recently made the decision to consolidate real estate, infrastructure, and natural resources into a single asset class called real assets, in a move that it hopes will benefit investors. The pension fund stated that this will improve flexibility to effectively achieve asset class objectives, facilitate its ability to evaluate asset class attributes in aggregate and relative to total portfolio impact, and increase its ability to deploy capital to the most attractive opportunities.
The pension fund has also carried out a new asset allocation review and chose to lower the allocation to real assets from 25% to 22.5% over the medium term. There is flexibility for further decreases as it becomes warranted, the fund added.
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