Massachusetts PRIM Discloses New Commitments

The Massachusetts Pension Reserves Investment Management (PRIM) Board has disclosed new commitments, as shown in a quarterly update report.

The Board approved an allocation of up to $125 million to JEN 8 LP managed by JEN Partners. “JEN is a land-oriented residential real estate manager that makes short duration investments in select submarkets across the U.S.,” as described in the report

In addition, the PRIM Board approved a $300 million Berkshire Co-investment through the Project Journey Co-Investment Opportunity. Details of this co-investment were not available.

In private equity, a $200 million follow-on commitment was given to TowerBrook Investors VI. “Towerbrook invests across multiple industries, and core sectors include healthcare, consumer & distribution, financial services, technology, media & services, and industrials.”

As of June 30, 2022, the PRIT Fund was valued at approximately $92.4 billion.

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