Maine Public Employees Retirement System, the USD 9.3 billion public pension fund, is putting together an IPS that will guide its future investment strategy. The process is likely to take several months and the pension fund is unlikely to commit to any funds during that period. However, it does have an idea of the investments it will target upon resumption of investment activity. While it has only committed to core funds and listed vehicles in the past, it will invest in higher risk private equity real estate funds in the future. Debt and distressed situations funds are likely to be part of its closed-end investment plans. It will target both US and international markets and in terms of debt strategies it will pursue distressed debt, first mortgages, preferred equity, senior debt and whole loans. It wants exposure to distressed situations and debt in order to diversify its real estate portfolio and provide attractive risk-adjusted returns. Any new fund manager needs to register with ORG Portfolio Management if wishing to present the pension fund with an investment opportunity.
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