Mass PRIM approves $375m in commitments

The US public pension has backed three private debt funds in its latest private markets commitments.

Institution: Massachusetts Pension Reserves Investment Management Board
Headquarters: Boston, United States
AUM: $72.01bn
Allocation to alternatives: 24.90%
Bitesize: $100-200m

Massachusetts Pension Reserves Investment Management Board (Mass PRIM) agreed to $375 million in commitments to private debt funds in its February Board meeting, a contact at the pension informed Private Debt Investor.

These commitments are made up of $150 million to Anchorage Structured Credit (a separately managed account for Mass PRIM), $125 million to Investcorp Special Opportunities Italian Distressed Loan Fund II and $100 million to Blackrock Aviation Holdings Fund of One.

As illustrated in the charts below, Mass PRIM tends to focus its private debt investments on funds targeting the origination of subordinated / mezzanine debt and the acquisition of distressed debt.

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