Massachusetts Pension Reserves Investment Management Board, Boston, approved an increase in its allocation to private equity, to 11% from 10%, at its Tuesday meeting.
The actual allocation as of Dec. 31 was 11.1%.
Eric Convey, spokesman for the $63.2 billion pension fund, said the change was made because private equity has been a top performing asset class for MassPRIM “for some time.”
MassPRIM will reduce its core fixed-income allocation by one percentage point to 12%.
