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MassPRIM boosts private equity allocation

Massachusetts Pension Reserves Investment Management Board, Boston, approved an increase in its allocation to private equity, to 11% from 10%, at its Tuesday meeting.

The actual allocation as of Dec. 31 was 11.1%.

Eric Convey, spokesman for the $63.2 billion pension fund, said the change was made because private equity has been a top performing asset class for MassPRIM “for some time.”

MassPRIM will reduce its core fixed-income allocation by one percentage point to 12%.