Massachusetts Pension Reserves Investment Management Board, Boston, committed $1.6 billion to nine private equity funds, made a $30 million follow-on commitment and allocated $250 million to a real estate debt strategy, recently released documents from the $90 billion pension fund show.
At its May 26 meeting, the board approved a total of $465 million to two private equity funds managed by TA Associates: $350 million to TA XIV, a middle-market growth equity fund, and $115 million to TA Select Opportunities Fund II, which invests in technology, health-care, financial services, consumer and business services firms that offer significant growth potential.
The board also committed up to $350 million to Hellman & Friedman Capital Partners Fund X, a large-cap buyout fund focused on control-oriented investments in North American and European companies.
MassPRIM committed a total of $275 million to three funds managed by Insight Partners: up to $150 million to Insight Venture Partners XII, a growth equity fund; $75 million to Insight Partners Fund X Follow-On Fund; and $50 million to Insight Partners XII Buyout Annex Fund.
The PRIM board committed up to $175 million each to Providence Strategic Growth V, a private equity growth fund that targets software and tech-enabled service companies; and Quad-C Partners X, a middle-market buyout fund.
The board also committed $150 million to Thompson Street Capital Partners VI, a middle-market buyout fund.
MassPRIM made a follow-on commitment of up to $30 million to Flagship Pioneering Fund VII, which invests in seed and early-stage therapeutics, health technology and agricultural technology firms. The board previously committed $25 million to the fund in March 2020.
Finally, the board approved an initial allocation of up to $250 million to the Oaktree Fund-of-One, a real estate debt strategy by Oaktree Capital Management that will invest alongside two Oaktree funds.