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Mass PRIM approves $115m in commitments

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

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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.

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