Institution: Massachusetts Pension Reserves Investment Management Board
Headquarters: Boston, US
AUM: $92.99 billion
Allocation to alternatives: 24.6%
Massachusetts Pension Reserves Investment Management Board approved more than $1.6 billion-worth of private equity commitments in Q1 2021, according to materials released on the pension’s website.
The commitments comprised $350 million each to Hellman & Friedman Capital Partners X and TA XIV; $115 million to TA Select Opportunities Fund II; $175 million to Providence Strategic Growth Fund V; $150 million to Insight Partners XII; $50 million to Insight Partners XII Buyout Annex Fund; $75 million to Insight Venture Partners X Follow-On Fund; $175 million to Quad-C Partners X; $150 million to Thompson Street Capital Partners VI; and a $25 million follow-on commitment to Flagship Pioneering Fund VII.
According to Mass PRIM’s 2021 fiscal year private equity pacing plan analysed on affiliate title Private Equity International, the pension is anticipating up to an additional $900 million in private equity commitments to be made between Q2 and Q4.
Mass PRIM had a 13.4 percent allocation to private equity as of May 2021, the most recently released asset allocation. The pension’s allocation lies within its 11-16 percent target range, with its portfolio value working out at around $12.4 billion-worth of private equity exposure.
As illustrated below, Mass PRIM’s recent private equity commitments have predominantly targeted North American and global funds pursuing either buyout, growth or venture strategies.
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