Institutional Investors

Mass PRIM continues aggressive expansion

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The $47 billion Massachusetts Pension Reserves Investment Management Board in Boston reported losses of 2.73% in its hedge fund portfolio in 2011, but is still building out its direct hedge fund programme.

In January and February a slate of new managers were approved for the hedge fund portfolio: King Street (understood to have a $50 million allocation), Ascend Capital, Brigade Capital, Capula Management, Davidson Kempner Advisors, Glenview Capital, Highfields Associates, Indus Partners, Pershing Square, Samlyn Partners and Winton Capital Management.

What is uncertain is how much of an overlap there is between the newly selected direct hedge funds