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Sign in Sign up for a FREE subscriptionMass PRIM to invest $200m in Blackstone fund
Massachusetts Pension Reserves Investment Management (Mass PRIM) has earmarked $200 million for Blackstone Property Associates, a co-investment fund managed by Blackstone Group.
The fund owns a portfolio of life-science assets located throughout the United States.
IREI understands this marks PRIM’s first real estate investment with Blackstone.
As of June 30, Mass PRIM had a 9.2 percent actual allocation to real estate, representing $9.7 billion in assets. The pension fund declined to comment on the investment, citing a non-disclosure agreement with Blackstone.
