Mass PRIM approves $175m in commitments

The US public pension has backed two growth 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 commit $175 million across two private equity vehicles, a contact at the pension informed Private Equity International. The commitments comprise of $100 million to TA Select Opportunities Fund and $75 million to Georgian Partners Growth Fund V. PRIM is a repeat investor to funds managed by TA Associates, but is a first-time investor with Georgian Partners.

The $76 billion US public pension has a 12.0 percent target allocation to private equity that currently stands at 11.30 percent.

As illustrated below, PRIM has been an active private equity investor this year, with 13 known commitments to 2019-vintage PE vehicles. Combined, these commitments constitute over $1.68 billion.

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