PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

MassPRIM commits $45m to emerging PE and VC managers

The Massachusetts Pension Reserves Investment Management Board has committed an additional $45 million to emerging and diverse private equity and venture capital investment managers, according to a report by Pensions & Investments Online.

The Massachusetts Pension Reserves Investment Management Board (MassPRIM) has committed an additional $45 million to emerging and diverse private equity and venture capital investment managers, according to a report by Pensions & Investments Online.

The report cites materials released ahead of the $91.9 billion pensions scheme’s latest investment committee meeting as revealing that commitments are part of its $1 billion FUTURE Initiative announced in 2021, which aims to boost diversity within MassPRIM’s vendor base to at least 20% to comply with the state’s Investment Equity Law signed in January 2021.

Venture capital fund NewView Capital Fund III, buyout fund Red Arts Capital Opportunity Fund I, and growth equity fund 1315 Capital III, all received commitments of $15 million.

MasPRIM’s allocation to private equity totalled 17.7% as of 31 December, inline with its target allocation range of 12% to 18%.

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured