MainePERS invest $200 million in KKR infrastructure fund
According to sources, the Maine Public Employees Retirement System (MainePERS) has approved an investment of US$200 million in the KKR Global Infrastructure Investors II LP.
The Maine Public Employees Retirement System (MainePERS) is an independent public agency of the state of Maine (United States). MainePERS administers retirement programs that cover state employees, the state's public school teachers, judges, legislators, and employees of municipalities and other public entities, called "participating local districts" (PLDs) that have chosen to provide retirement plans through MainePERS.
KKR Global Infrastructure Investors II LP is trying to gather US$2 billion, about twice as much as the prior fund raised in Q2 2012. The fund was KKR's maiden infrastructure vehicle and had a global focus with a particular interest in the US and Europe. It seeks equity positions in brownfield economic and social assets with the scope to examine greenfield opportunities.
KKR's first fund, which started buying assets in 2011 and targets 10-15% annual return, is 60 - 70 % invested. KKR last month announced an investment in European Locomotive Leasing.
KKR also announced last month the final closing of KKR Energy Income and Growth Fund I (EIGF). EIGF represents a $2.0 billion strategy focused primarily on investing behind the development of North American unconventional oil and gas resources.
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