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MassPRIM considers commitment of $50m to DivcoWest co-investments
The real estate and timberland committee for the Massachusetts Pension Reserves Investment Management Board, which manages Massachusetts’ $58.2 billion pension reserves investment trust fund, has approved a recommendation for an allocation of up to $50 million to DivcoWest IV co-investment opportunities. The commitment is still subject to approval by the board, which meets next on June 17.
MassPRIM has invested $100 million in DivcoWest IV, which is a value-added fund managed by DivcoWest.
In board documents, MassPRIM’s real estate and timberland committee notes that well-underwritten co-investments offer additional sources of deal flow and attractive risk/return ch