Mass PRIM Commits $706M to Private Equity; Selects New International Managers

Mass PRIM approved nine commitments to private equity totaling $706 million, according to materials from the July 30th Board meeting. 

Within the private equity,  $100 million was allocated to  Five Elms Fund VI, $200 million to  Thoma Bravo Fund XVI, $125 million to Thoma Bravo Discover Fund V, $175 million to Trident X, and $20 million to 5th Century Partners Fund II, $18 million was allocated to  Index Ventures XII, $38 million to Index Ventures Growth VII, and $20 million to Allied Industrial Partners I. 

$10 million was invested in USV 2024, a venture capital fund managed by Union Square Ventures.

Additionally, three managers were selected for the Developed International Growth Equity RFP. C WorldWide International Equities, PineStone International Equity, Walter Scott EAFE Equity,  will each receive a mandate of $400 million. 

Five managers were also selected for the Multi-Asset Class Credit search. A mandate of $300 million was committed to Anchorage Multi-Asset Credit, $600 million to HPS Institutional Credit Strategy, $500 million to KKR Multi-Asset Credit, $200 million to KKR Global Credit Opportunities Fund, and $400 million to Shenkman Multi-Asset Credit.   

As of June 30, 2024, Mass PRIM was valued at approximately $105.3 billion, allocating approximately 17% with a target range of 13-19%.

For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace!