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Mass PRIM confirms $300m in commitments

The US public pension has approved its maiden 2021 private equity commitments.

Institution: Massachusetts Pension Reserves Investment Management Board
Headquarters: Boston, US
AUM: $86.64 billion
Allocation to alternatives: 23.9 percent

Massachusetts Pension Reserves Investment Management Board approved $300 million-worth of private equity commitments at its February 2021 board meeting, a contact at the pension informed Private Equity International.

The commitments comprised $200 million to Thomas H Lee Equity Partners Fund IX and $100 million to JMI Equity Fund X.

Mass PRIM has a 12.4 percent current allocation to private equity. The pension recently increased its target range to the asset class from 11-16 percent to 11-17 percent.

As illustrated below, Mass PRIM’s recent private equity commitments have tended to target North America-focused venture or buyout funds.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.