Massachusetts PRIT has best performing PE portfolio – study

The report, based on the financials of 146 public pension funds with assets in excess of $1 billion to June 2012, also found that private equity continues to outperform all other asset classes over a 10-year horizon. Private equity returned 10% over the period compared to 6.7% for real estate, 6.6% for fixed income and 5.8% for public equities.

Allocations to private equity also appear to be increasing, accounting for 10.3% of the average pension fund portfolio, up from 9.6% last year. Public equities are on 48.6%, fixed income on 24.3% and real estate on 7.5%.

Massachusetts PRIT had 11.1% of its $54.4 billion portfolio invested in private equity as of April 2013 against a long-term target of 10%. According to AVCJ Research, the fund's most recent commitments to Asia-focused managers include SAIF Partners IV in 2009 and Keytone Ventures II in 2010.

CalPERS and California State Teachers' Retirement System (CalSTRS) are comfortably the largest US pension fund investors in private equity.

The top 10 is filled out by Washington State Department of Retirement Systems, New York State and Local Retirement System, Oregon Public Employees Retirement System, Teacher Retirement System of Texas, Pennsylvania Public School Employees' Retirement System, Michigan Public School Employees' Retirement System, New York State Teachers' Retirement System and State Teachers Retirement System of Ohio.

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• Topics
• Performance
• LPs
• North America
• LPs
• USA
• Performance
• Massachusetts Pension Reserves Investment Board (MassPRIM)
• California Public Employees' Retirement System (CalPERS)