The $48.1 billion Massachusetts Pension Reserves Investment Management board, Boston, on Tuesday approved commitments of up to $175 million to the $4 billion Oaktree Opportunities Fund IX, a distressed debt fund, and up to $33 million to the $250 million Catalyst Investors III private equity fund.
In personnel-related moves, the board approved the hiring of executive recruiting firm Sheffield Haworth to conduct a search for a senior investment officer, private equity. The position has been open since August, when Wayne D. Smith resigned to join private equity fund-of-funds firm Pathway Capital Management as a senior vice president.
The board also approved plans to hire PRIM's first senior investment officer to oversee the system's hedge fund investments. Hedge funds have fallen within the bailiwick of Hannah G. Commoss, deputy chief investment officer, public markets, but with the growing complexity of PRIM's hedge fund exposure, as the system increasingly invests directly in hedge funds rather than through funds of funds, PRIM executives Tuesday cited the need for a dedicated professional to oversee those allocations.
In addition, the board approved giving Ms. Commoss the additional title of director of strategic initiatives for the system.