Mass PRIM approves $1.36bn in commitments

Institution: Massachusetts Pension Reserves Investment Management Board
Headquarters: Boston, United States
AUM: $72.01bn
Allocation to alternatives: 24.90%
Bitesize: $50-100m

Massachusetts Pension Reserves Investment Management Board (Mass PRIM) agreed to $1.13 billion in commitments to private equity funds in its February Board meeting, a contact at the pension informed Private Equity International.

These commitments include $150 million to Anchorage Structured Credit (a separately managed account for Mass PRIM), $500 million to Sightway Capital Fund of One, $250 million to Blackstone Capital Partners VIII, $75 million to American Industrial Partners VII, $100 million to Blackrock Aviation Fund of One, $125 million to Investcorp Special Opportunities Italian Distressed Loan Fund II, $100 million to Providence Strategic Growth IV, $10 million to Spark Capital VI, $20 million to Spark Capital Growth III and $25 million to Lovell Minnick Equity Partners V. The commitment to Lovell Minnick’s fund follows an initial $150 million commitment, bringing Mass PRIM’s total stake in the fund to $175 million.

As illustrated in the charts below, the $72.01 billion US public pension has a 12.0 percent target allocation to private equity that currently stands at 11.40 percent.

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