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Maine Consolidated Plan for Participating Local Districts

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Maine Consolidated Plan for Participating Local Districts
MainePERS-logo.png
Basic facts
Location:Augusta, Maine
Top official:Brian H. Noyes, board chair
Year founded:1942
Active members:13,122
Website:Official website
Total assets under management
2023:$3,799,744,503
See also: Public pensions in Maine

The Maine Consolidated Plan for Participating Local Districts (the plan) is a Maine state pension fund that provides retirement, disability, and survivor benefits to the state's employees of local districts that participate in the Maine Public Employees Retirement System (MainePERS). The plan had $3,799,744,503 ($3.8 billion) in total assets under management as of June 30, 2023.[1]

The management of public pension funds can indicate support or opposition to environmental, social, and corporate governance (ESG) investment practices. ESG investing considers the extent to which corporations align with and promote certain non-financial standards, such as net carbon emission or corporate board diversity goals. States typically hire asset management companies (AMCs) to direct pension plan investments, some of which have ESG commitments that guide their strategies.

This article features the following sections:

Background

See also: Public pensions

The Maine Consolidated Plan for Participating Local Districts, founded in 1942, is a sub-fund under Maine Public Employees Retirement System (MainePERS). It invests the assets of and provides funding for the employees of local districts that participate in MainePERS. It provides a number of plan options that local districts can choose from.[1]

The plan served over 13,122 active members and approximately 10,615 retirees and beneficiaries as of June 30, 2023.[1]

Pension performance overview

The following table features information about the funding level and assets managed by the Maine Consolidated Plan for Participating Local Districts as of June 30, 2023:[1]

Maine Consolidated Plan for Participating Local Districts pension performance (June 30, 2023)
Fiscal year Percent funded Unfunded liabilities Total assets
2023 91% $366,068,298 $3,799,744,503

Assets and asset management

Environmental, social, and corporate governance
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Asset management companies (AMCs) are hired to manage asset investment for state pension funds across all 50 states.

As of October 2024, 330 AMCs were members of the Net Zero Asset Managers Initiative (NZAM), and 391 AMCs were investor participants in the Climate Action 100+ initiative. Both international asset manager initiatives aimed to align the investment decisions of signatories with the goal of achieving net zero greenhouse gas emissions by 2050.[2][3]

NZAM announced on January 13, 2025, that it was suspending operations and removing the commitment statement and list of signatories from its website. The group said in a statement it would reevaluate its plans and operations in light of “[r]ecent developments in the U.S. and different regulatory and client expectations in investors’ respective jurisdictions.”[4]

List of AMCs contracting with the Maine Consolidated Plan for Participating Local Districts

The Maine Consolidated Plan for Participating Local Districts (the plan) is a sub-fund under the Maine Public Employees Retirement System (MainePERS). MainePERS administers the plan, among other retirement and benefit plans for the governmental workers of Maine. The plan does not contract with its own AMCs; the AMCs for MainePERS account for all the pension plans it administers.

MainePERS contracted with 203 asset management companies (AMCs) or specific funds as of June 30, 2021. Of those companies, four were investor participants in Climate Action 100+, and 19 were members of NZAM, as of 2024. The following list identifies the AMCs (and in some cases, the specific funds) contracting with MainePERS:[5]

  • ABRY Advanced Securities Fund II (NZAM)
  • ABRY Advanced Securities Fund III (NZAM)
  • ABRY Heritage (NZAM)
  • ABRY Senior Equity IV (NZAM)
  • ABRY Senior Equity V (NZAM)
  • ABRY VII (NZAM)
  • ABRY VIII
  • ACM Fund II
  • ACM Permanent Crops
  • Advent International GPE IX
  • Advent International GPE VII
  • Advent International GPE VIII
  • Advent LAPEF VI
  • Affinity Asia Pacific IV
  • Affinity Asia Pacific V
  • AG Direct Lending II
  • AG Direct Lending III
  • AG Direct Lending IV
  • Alinda Infrastructure Fund II
  • AMERRA Agri Fund III
  • Angelo Gordon Net Lease IV
  • AQR Liquid Enhanced Alternative Premia
  • ArcLight Energy Partners V
  • ArcLight Energy Partners VI
  • ARES Capital Europe IV
  • ARES Capital Europe V
  • Aspect Core Diversified
  • Audax
  • Bain Capital Venture 2021
  • Bain Capital Venture III
  • Barings Real Estate Asia II (NZAM, Climate Action 100+)
  • Berkshire IX
  • Berkshire VIII
  • Black Bear Asset Management (NZAM)
  • BlackRock (NZAM, Climate Action 100+)
  • Blackstone Cap VI
  • Blackstone Cap VII
  • Blackstone Property Partners
  • Blackstone RE Partners IX
  • Blackstone RE Partners VII
  • Blackstone RE Partners VIII
  • Bridgewater Pure Alpha
  • Brookfield Infrastructure Fund II
  • Brookfield Infrastructure Fund III
  • Cambridge Associates
  • Carlyle Asia Partners Fund III
  • Carlyle Asia Partners Fund IV
  • Carlyle Asia Partners Fund V
  • Carlyle Global Infrastructure Opportunity Fund
  • Carlyle Infrastructure Fund
  • Carlyle Power Partners II
  • Centerbridge Capital Partners III
  • Charterhouse IX
  • Charterhouse VIII
  • Charterhouse X
  • Co-Investments
  • Cube Infrastructure Fund
  • CVC Capital Partner VI
  • CVC Capital Partner VII
  • Denham Mining Fund
  • EnCap Energy Capital Fund IX
  • EnCap Energy Capital Fund VIII
  • EnCap Energy Capital Fund X
  • EnCap Energy Capital Fund XI
  • EnCap Flatrock Midstream III
  • EnCap Flatrock Midstream IV
  • EQT Infrastructure Fund III
  • EQT Infrastructure Fund IV
  • EQT Real Estate II
  • FORT Global Contrarian Fund
  • General Catalyst Group X - Early Venture
  • General Catalyst Group X - Endurance
  • General Catalyst Group X - Growth Venture
  • GIP Spectrum Fund
  • Global Energy & Power Infrastructure Fund I (NZAM)
  • Global Energy & Power Infrastructure Fund II (NZAM)
  • Global Infrastructure Partners Fund (NZAM)
  • Global Infrastructure Partners Fund II (NZAM)
  • Global Infrastructure Partners Fund III (NZAM)
  • Global Infrastructure Partners Fund IV (NZAM)
  • GTCR X
  • GTCR XI
  • GTCR XII
  • Harrison Street Core Property Fund
  • HBK Multi-Strategy
  • Hellman & Friedman IX
  • Hellman & Friedman VII
  • Hellman & Friedman VIII
  • HIG Bayside Loan Opportunity II
  • HIG Bayside Loan Opportunity III (Europe)
  • HIG Brazil & Latin America
  • HIG Buyouts II
  • HIG Buyouts III
  • HIG Capital Partners V
  • HIG Europe Capital II
  • HIG Middle Market LBO Fund II
  • HIG Middle Market LBO Fund III
  • High Street IV
  • High Street V
  • High Street VI
  • Homestead Farmland II
  • Homestead Farmland III
  • Inflexion Buyout Fund IV
  • Inflexion Partnership Capital Fund I
  • Inflexion Supplemental Fund IV
  • Invesco Real Estate Asia IV (NZAM)
  • Invesco US Income (NZAM)
  • IPI Data Center Partners I
  • IPI Data Center Partners II
  • Kelso Investment Associates IX
  • Kelso Investment Associates VIII
  • Kelso Investment Associates X
  • KKR Americas XII
  • KKR Infrastructure
  • KKR Infrastructure II
  • KKR Infrastructure III
  • KKR North America XI
  • KKR REPA I
  • KKR REPA II
  • KKR REPE
  • KKR REPE II
  • KKR Special Situations
  • KKR Special Situations II
  • Meridiam Infrastructure Europe I (Secondary)
  • Meridiam Infrastructure Europe I Class B (Secondary)
  • Meridiam Infrastructure Europe II (Secondary)
  • Meridiam Infrastructure Europe II Class B (Secondary)
  • Meridiam Infrastructure Europe III
  • Meridiam Infrastructure North America II
  • Meridiam Infrastructure North America II (CIP)
  • Meridiam Infrastructure North America II (Secondary)
  • Meridiam Infrastructure North America III
  • Mesa West Core
  • Northbridge Strategic Fund II
  • Oaktree Opportunity Fund VIII
  • ONCAP IV
  • Onex Partners III
  • Onex Partners IV
  • Onex Partners V
  • Orion Mine Finance II
  • Owl Rock
  • Owl Rock III
  • Paine Schwartz Partners IV
  • Paine Schwartz Partners V
  • Pathlight Capital II
  • Prima Advisors Mortgage Fund
  • Prudential Senior Housing V
  • Rhone Partners V
  • Riverside Capital Appreciation VI
  • Riverside Micro Cap Fund III
  • Riverside Micro Cap Fund IV
  • Riverside Micro Cap Fund IV-B
  • Riverside Micro Cap Fund V
  • Rubenstein Partners III
  • SCP Private Corporate Lending Fund
  • SCP SF Debt Fund
  • Shoreview Capital III
  • Shoreview Capital IV
  • Silver Creek Aggregate Reserves Fund I
  • Silver Point Specialty Credit II
  • Smart Markets
  • Sovereign Capital IV
  • Stonepeak Infrastructure II
  • Stonepeak Infrastructure III
  • Summit Credit Partners II
  • Summit Europe III
  • Summit GE IX
  • Summit GE VIII
  • Summit GE X
  • Summit VC III
  • Summit VC IV
  • Summit VC V
  • Taurus Mining Finance
  • Taurus Mining Finance Annex
  • Taurus Mining Finance II
  • TCP Direct Lending VIII
  • TCV IX
  • TCV VIII
  • TCV X
  • TCV XI
  • Teays River
  • Technology Impact Fund
  • Technology Impact Fund II
  • Technology Impact Growth Fund
  • Thoma Bravo Special Opportunities Fund II
  • Thoma Bravo XI
  • Thoma Bravo XII
  • Thoma Bravo XIII
  • Tillridge Global Agribusiness II
  • Twin Creeks Timber
  • US Farming Realty III
  • Walton Street VII
  • Walton Street VIII
  • Water Street Healthcare III (NZAM, Climate Action 100+)
  • Water Street Healthcare IV (NZAM, Climate Action 100+)
  • Wayzata Opportunities III
  • Westbrook IX
  • Westbrook X
  • Westbrook XI
  • Windham Capital
  • Windham Risk Premia
  • Wynnchurch Capital IV
  • Wynnchurch Capital V


Governance and accountability

This section features information about the eight-member board of trustees that oversees the Maine Consolidated Plan for Participating Local Districts (the plan). The board is not specific to oversight of the plan and exercises oversight duties for other state funds.[1]

Board selection method

The board of trustees that oversees the Consolidated Plan for Participating Local Districts is made up of eight members. Two trustees are system members, one is a member of the Participating Local Districts plan, four are appointed by the governor, and one is the state treasurer, who serves on the board ex-officio.[1]

Board of trustees membership

An eight-member board of trustees oversees the operation and administration of the plan. The following individuals served on the board as of August 2024:[6]

  • Brian H. Noyes, chair
  • Richard T. Metivier, vice chair
  • Henry Beck
  • John S. Beliveau
  • Shirrin L. Blaisdell
  • Nathan Burnett
  • Kirk Duplessis
  • John H. Kimball

See also

External links

Footnotes

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 MainePERS, "Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2023," August 13, 2024
  2. ↑ The Net Zero Asset Managers Initiative, "The Net Zero Asset Managers Initiative," accessed January 26, 2023
  3. ↑ Climate Action 100+, "The Three Goals," accessed June 20, 2023
  4. ↑ Pensions and Investments, "Net Zero Asset Managers initiative to suspend activities in wake of BlackRock departure," accessed January 15, 2024
  5. ↑ Ballotpedia, "Ballotpedia: Asset management data for state-administered pension funds across the 50 states," March 2023
  6. ↑ MainePERS, "Board Memebrs," August 13, 2024
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