Massachusetts Pension Reserves Investment Management Board, Boston...

Massachusetts Pension Reserves Investment Management Board, Boston, committed up to $75 million in AG Capital Recovery Partners III, a distressed debt portfolio. The investment is part of the $29 billion pension fund’s high-yield debt allocation, which is 3% of total assets. One-third of that allocation goes to distressed debt, while the rest to high-yield bonds, said Stan Mavromates, senior investment officer at PRIM.