MassPRIM commits $1.1bn to PE

Institution: Massachusetts Pension Reserves Investment Management Board
Headquarters: Boston, US
AUM: $91.9 billion
Allocation to private equity: 17.7%

Massachusetts Pension Reserves Investment Management Board committed $1.1 billion across five private equity funds, according to its February board meeting materials.

The pension fund committed $370 million to TA Associates across 2 of its funds: $335 million to TA XV and $35 million to TA Select Opportunities Fund III. TA Associates was founded in 1968 by Peter Brooke. The Boston-based firm expanded its presence in the US with the opening of its Silicon Valley office in 1982.

MassPRIM made a new relation with Pharmakon Advisors. It made a $150 million commitment to BioPharma Credit Investments V. Founded in 2009, Pharmakon Advisors is a New York-based firm that targets debt investments in life science companies in North America.

The Massachusetts-based pension fund also made commitments of $285 million to GTCR Fund XIV and $300 million to Hellman & Friedman Capital Partners XI.

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