MassPRIM commits to Centerbridge, hires securities lending provider

Massachusetts Pension Reserves Investment Management Board, Boston, committed to a private debt fund and selected a securities lending provider, said the minutes from its latest investment committee meeting.

The board, which oversees the state's $61.2 billion Pension Reserves Investment Trust, agreed to commit $200 million to Centerbridge Capital Partners Fund III, a private debt fund managed by Centerbridge Partners.

In addition, MassPRIM selected eSecLending to provide securities lending services. The RFP was issued in May.

Other finalists included BNY Mellon, Deutsche Bank and Morgan Stanley (MS).