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MassPRIM approves $100m commitment

The US public pension has backed JEN Partners' seventh series value-add property vehicle.

Institution: Massachusetts Pension Reserves Investment Management Board
Headquarters: Boston, US
AUM: $78.72 billion
Allocation to alternatives: 24.8%

Massachusetts Pension Reserves Investment Management Board confirmed a $100 million commitment to JEN VII at its December 2020 board meeting, a contact at the pension confirmed to PERE.

JEN Partners’ seventh flagship value-add vehicle is in market targeting $500 million. MassPRIM previously committed $50 million to the manager’s $360 million Fund VI in Q3 2018.

The $78.72 billion US public pension has an 8.8 percent allocation to real estate.

As illustrated below, MassPRIM’s real estate fund commitments tend to target North American vehicles targeting value-add returns.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.