Mass PRIM renews Hamilton Lane as its private equity consultant

The institution continues its long-standing relationship with Hamilton Lane.

Institution: Massachusetts Pension Reserves Investment Trust
Headquarters: Boston, US
AUM: $77.3 billion
Allocation to Alternatives: 23.7%

Massachusetts Pension Reserves Investment Trust approved a request for proposal from investment management firm Hamilton Lane to be an advisor for the system’s private equity portfolio, according to a September 2020 meeting agenda.

Highlights from Mass PRIM’s September 2020 board meeting:

  • Hamilton Lane will also provide legal services for Mass PRIM and was the only firm to submit a bid for those services, according to meeting notes.
  • Hamilton Lane’s fees, $1.5 million a year, were in line with its current arrangement with Mass PRIM, meeting documents show.
  • Mass PRIM committed $200 million to Technology Crossover Ventures XI, targeting $3.25 billion, according to the meeting agenda. The fund focuses on investing in high-growth and technology companies in North America and Europe.
  • Private equity makes up 11.1 percent of Mass PRIM’s $77.3 billion portfolio, according to meeting notes.
  • Mass PRIM plans to focus on private equity in 2021, hosting an investor conference, launching direct investment initiatives and strengthening private equity LP agreements.

Matthew Liposky has served as Mass PRIM’s chief investment operating officer since 2017, according to his LinkedIn profile. He previously served as the system’s director of investment operations. Prior to joining the pension, Liposky worked at Liberty Mutual Group Asset Management.

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