Massachusetts Pension Reserves Investment Management Board (PRIM) has committed $150 million to a Berkshire Residential Investments fund, Berkshire Multifamily Credit Fund IV. This commitment was made on Dec. 5, according to a spokesperson.
Berkshire Multifamily Credit Fund IV is a closed-end, core-plus fund that will invest in debt assets secured by multifamily properties in the United States. A fundraising goal has not been disclosed.
PRIM is a public pension fund that manages assets of the Pensions Reserves Investment Trust Fund for public employee pension benefits. As of Dec. 31, 2023, it had $110.5 billion in total assets, with a 10 percent target allocation to real estate and an actual allocation to real estate of $10.4 billion.
For more information about this fund and others, visit the IREI.Q database.
