Massachusetts Pension Reserves Investment Management Board, Boston, agreed to allocate roughly $787 million to a total of eight investment funds, confirmed Eric Convey, spokesman for the $67 billion pension fund.
At its Nov. 16 meeting, the PRIM board approved commitments of $150 million each to Mudrick Distressed Senior Secured Fund, a distressed credit fund managed by Mudrick Capital Management, and CATCo Diversified Fund II, a reinsurance fund managed by CATCo Investment Management.
The board also approved a $125 million commitment to Anchorage Illiquid Opportunities VI, a credit fund managed by Anchorage Capital Group; and €100 million ($117 million) to Nordic Capital Fund IX, a European and U.S. midmarket health-care private equity fund.
It also agreed to commit $100 million to Aeolus Property Catastrophe Keystone PF Fund, an opportunistic/alternative reinsurance fund that specializes in property catastrophe insurance coverage managed by Aeolus Capital Management.
Also at its meeting, MassPRIM's board committed $75 million to WestView Capital Partners IV, a venture capital fund; and $50 million to Thomas H. Lee Equity Fund VIII, a private equity and credit fund that focuses on business and finance, health care, and media and information services, managed by Thomas H. Lee Partners.
MassPRIM also made a $20 million co-investment to Berkshire Fund IX, a buyout fund managed by Berkshire Partners. It committed $175 million to Berkshire Fund IX in early 2016.
The current asset allocation is 40% global equity, 13% portfolio completion strategies (including hedge funds), 12% core fixed income, 11% private equity, 10% each real estate and value-added fixed income, and 4% timberland.
