Massachusetts commits more than $300m to PE

Massachusetts’ $44bn pension has committed to GTCR, Montagu and Spark Capital recently, as well as to Insight Ventures co-investment funds.

The Massachusetts Pension Reserves Investment Management Board has made more than $300 million in commitments to private equity, including to mid-market players GTCR Golder Rauner and Montagu.

Massachusetts committed $150 million to GTCR X, which is targeting $3 billion and €60 million to Montagu’s fourth fund, which is targeting €2 billion with a hard cap of €2.5 billion, according to pension documents.

MassPRIM also directed money to venture funds recently. The pension allocated a total of $65 million to Insight Ventures, giving $15 million to the firm’s second, and $50 million to the firm’s seventh co-investment funds.

Also, the $44 billion pension committed $25 million to Spark Capital III, a venture fund based in Boston targeting $360 million.

Massachusetts planned on committing $1 billion to private equity this year, the former PRIM executive director Michael Travaglini told PEO in a prior interview. The pension’s target to private equity is 10 percent.