Taunton CRS Invests $7M in PRIM 2025, Eliminates Int’l FI Allocation

The Taunton Contributory Retirement System (CRS) made a $7M commitment to Mass PRIM’s 2025 private equity program, while also eliminating its international fixed income allocation and thereby dropping PIMCO as a manager.

According to recently released minutes of its board meeting on November 20, 2024, the Taunton pension board unanimously approved the allocation to the PRIM Vintage Year 2025 program, following a review and recommendation by general consultant Dahab. Per Dakota data, Taunton previously committed $3M to the 2023 vintage of the private equity fund of funds program.

Concurrently, the Massachusetts-based city pension also voted to eliminate its global fixed income allocation after an asset allocation study conducted by Dahab, where it observed that the portfolio “no longer met its investment objectives.” The move consequently led to the termination of PIMCO as manager, with the funds from the liquidation to be reallocated to current manager Manulife. 

The pension said it is finalizing a revised target allocation, with assistance from Dahab. The Taunton system manages approximately $424M in plan assets, as per the latest data in Dakota Marketplace.

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Written By: Dakota

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