MassPRIM commits $80m to real estate, $65m to timberland
The Massachusetts Pension Reserves Investment Management Board has approved two commitments to DivcoWest Fund IV Co-Investments totaling $80 million, and a commitment of up to A$69 million ($64.9 million) to Campbell Global for an additional investment in OneFortyOne Plantations, a timberland asset structured as an operating company and located in Mt. Gambier, South Australia.
The first commitment to DivcoWest Fund IV Co-Investments is worth up to $50 million and is a follow-on to MassPRIM’s $100 million commitment in December 2013 to DivcoWest Fund IV, which had a $976 million final close earlier this year.
“The fund does not have a formal co-investment vehicle, s