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 (MassPRIM) recently approved multiple commitments to private equity, according to the pension’s board materials.
The public pension fund made the following commitments:
- €250 million to CVC Capital Partners IX
- $150 million to PSG VI
- $150 million to American Industrial Partners Capital Fund VIII
- $75 million to KPS Mid-Cap Fund II
Managed by CVC Capital Partners, CVC Capital Partners IX has a target size of €25 billion and focuses on buyout investments across Europe and North America. MassPRIM has invested in eight prior CVC funds, according to PEI data.
PSG VI will target investments in growth-oriented, lower-mid-market companies in the software and tech-enabled services industries primarily located in North America.
Managed by American Industrial Partners, the recently launched American Industrial Partners Capital Fund VIII has a target size of $5 billion and will focus on industrial businesses located in North America. MassPRIM has previously committed $75 million to its predecessor fund which closed on $3 billion of capital commitments.
The pension fund further revealed a commitment of up to $75 million to KPS Mid-Cap Fund II. MassPRIM has invested in four prior KPS funds starting in 2009, including a $40 million commitment to KPS Mid-Cap Fund.
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