Massachusetts Pension Reserves Investment Management Board, Boston, committed or invested a total of $1.25 billion to seven funds, documents from the $71.8 billion pension system show.
At its board meeting Tuesday, MassPRIM approved a commitment of up to $300 million to Hellman & Friedman Capital Partners IX, a buyout fund. PRIM has invested in six prior Hellman & Friedman funds in this series.
The board also approved a commitment of up to $250 million to Silver Creek Aggregate Reserves Fund I, a fund that invests in aggregates, which are construction materials such as sand, gravel and crushed stone, managed by Silver Creek Capital Management.
The board will commit up to $150 million each to Technology Crossover Ventures X, a late-stage growth equity fund; and Lovell Minnick Equity Partners V, a buyout fund managed by Lovell Minnick Partners. PRIM has invested in four prior Technology Crossover Ventures funds and committed $100 million to the prior Lovell Minnick fund in the series in 2015.
It will also invest $150 million each in the Summit Partners Concentrated Growth L/S Fund, a long/short hedge fund; and the Basswood Financial Fund, a hedge fund managed by Basswood Capital Management.
In addition, MassPRIM agreed to invest $100 million in 400 Capital Asset Based Onshore Term Fund, managed by 400 Capital Management.
