Institution: Massachusetts Pension Reserves Investment Management Board
Headquarters: Boston, US
AUM: $92.99 billion
Allocation to alternatives: 24.6%
Massachusetts Pension Reserves Investment Management Board approved more than $1.6 billion-worth of private equity commitments in Q1 2021, according to materials released on the pension’s website.
The commitments comprised $350 million each to Hellman & Friedman Capital Partners X and TA XIV; $115 million to TA Select Opportunities Fund II; $175 million to Providence Strategic Growth Fund V; $150 million to Insight Partners XII; $50 million to Insight Partners XII Buyout Annex Fund; $75 million to Insight Venture Partners X Follow-On Fund; $175 million to Quad-C Partners X; $150 million to Thompson Street Capital Partners VI; and a $25 million follow-on commitment to Flagship Pioneering Fund VII.
According to Mass PRIM’s 2021 fiscal year private equity pacing plan, the pension is anticipating up to an additional $900 million in private equity commitments to be made between Q2 and Q4.
Mass PRIM had a 13.4 percent allocation to private equity as of May 2021, the most recently released asset allocation. The pension’s allocation lies within its 11-16 percent target range, with its portfolio value working out at around $12.4 billion-worth of private equity exposure.
As illustrated below, Mass PRIM’s recent private equity commitments have predominantly targeted North American and global funds pursuing either buyout, growth or venture strategies.
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