MassPRIM plots $18bn diverse asset manager program
The $90 billion Massachusetts Pension Reserves Investment Management Board is expanding its focus on diverse investment managers outside its emerging manager program with a dedicated 20% allocation to its FUTURE initiative.
The project at $18 billion would likely be the largest portfolio of its kind among institutional investors. Currently, the system only has 6% of assets dedicated to diverse managers. Minority managers account for $5.3 billion in portfolio assets, which is an increase of $1 billion from five years ago. According to PRIM Deputy CIO David Gurtz, this is in an industry where only 1.5 . . .
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