Mass PRIM approves $115m in commitments

The US public pension has backed two special situations-focused private equity vehicles.

Institution: Massachusetts Pension Reserves Investment Management Board
Headquarters: Boston, United States
AUM: $76.0bn
Allocation to alternatives: 24.50%
Bitesize: $50-100m

Massachusetts Pension Reserves Investment Management Board has agreed to $115 million worth of private equity commitments, a contact at the pension informed Private Equity International. The commitments comprise of $40 million to KPS Mid-Cap Fund and $75 million to KPS Special Situations Fund V.

The $76.0 billion US public pension has a 12.0 percent target allocation to private equity which currently stands at 11.10 percent.

As illustrated below, Mass PRIM is a repeat investor to private equity funds managed by KPS Capital Partners, having committed to four separate vehicles, including the last three in the Special Situations fund series.

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