Massachusetts Pensions Reserves Investment Management Board, Boston...

Massachusetts Pensions Reserves Investment Management Board, Boston, invested $45 million in Alchemy Partners, a U.K.-based buyout firm, and $75 million in Oaktree Capital Management’s OCM Opportunities Fund IV, a distressed debt fund. The investments are part of the $27 billion pension fund’s increased allocation to private equity, to 10% of assets from 8%. As part of the increase, mandated in an asset allocation study done earlier this year, the board also set aside 1% for distressed debt. Year to date, the board allocated $675 million to private equity, just shy of its $750 million goal, said Wayne Smith, PRIM spokesman.