Massachusetts Pension Reserves Investment Management board, Boston, will look for an executive search firm to help the $49.9 billion pension fund find a chief investment officer to replace Stanley Mavromates.
In a telephone interview, Michael Trotsky, PRIM’s executive director, said an RFP will be issued as soon as possible.
Mr. Mavromates is leaving MassPRIM on June 12. He will become CIO for the Americas at Mercer on June 25.
Mr. Trotsky said an interim CIO would not be named, with PRIM’s investment staff reporting directly to him until a replacement for Mr. Mavromates is appointed.
Separately, the board on Thursday approved committing up to €155 million ($200 million) to the €7 billion Advent International GPE VII private equity fund; up to €115 million to the €4 billion euro Nordic Capital Fund VIII, a buyout fund; $100 million to the $1 billion H.I.G. Bayside Loan Opportunity Fund III, a distressed debt fund focused on Europe; and up to $50 million for the $750 million Institutional Venture Partners XIV venture capital fund.