Key Takeaways
- • The Maine Public Employees Retirement System (MainePERS) approved a private equity commitment of up to $50 million to Godspeed Capital Fund IV, according to a spokeswoman for the $23.1 billion pension fund.
- • The board of trustees approved the commitment at its Nov. 12 meeting, subject to final due diligence, legal review and negotiations.
- • Godspeed Capital is a new manager relationship for MainePERS, described in a board report as a lower middle-market private equity manager with a specialized focus on defense, government services and social infrastructure.
Summary
The Maine Public Employees Retirement System, based in Augusta, has approved a private equity commitment of up to $50 million to Godspeed Capital Fund IV, a spokeswoman for the $23.1 billion pension fund confirmed, according to Pensions & Investments reporter Robert Steyer. The board of trustees granted approval at its Nov. 12 meeting, but the commitment remains subject to final due diligence, legal review and negotiations.
Godspeed Capital Fund IV is managed by Godspeed Capital, which represents a new manager relationship for the Maine pension system. According to a board report cited in the coverage, Godspeed is a "lower middle-market private equity manager with specialized sector focus in defense, government services, and social infrastructure."
The commitment reflects a pension allocation to a sector-focused lower middle-market strategy. Because final terms are still subject to diligence and negotiation, the size and structure of the commitment could change before closing. The primary source does not provide further details on the fund's target size, fee terms or performance history.
Godspeed Capital Fund IV is managed by Godspeed Capital, which represents a new manager relationship for the Maine pension system. According to a board report cited in the coverage, Godspeed is a "lower middle-market private equity manager with specialized sector focus in defense, government services, and social infrastructure."
The commitment reflects a pension allocation to a sector-focused lower middle-market strategy. Because final terms are still subject to diligence and negotiation, the size and structure of the commitment could change before closing. The primary source does not provide further details on the fund's target size, fee terms or performance history.
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