Berkshire Value Fund V picks up MassPRIM as an investor
Massachusetts Pension Reserves Investment Management Board (MassPRIM) has contributed $200 million to Berkshire Residential Investments’ fifth flagship value-add fund, which completed its final close in November.
The pension fund could not be reached to comment on the investment at the time of publication.
Berkshire Value Fund V closed with $981 million of total equity commitments, representing Berkshire’s largest equity fundraise to date. The firm also secured an additional $370 million for future Fund V co-investment opportunities, bringing total commitments raised to $1.35 billion.
Fund V will construct a portfolio of high-quality, well-located multifamily investments across the United States, with a primary focus on class A and class B apartment communities. The fund will seek to identify investment opportunities in niche residential sectors and special