Michael Trotsky formally added the role of chief investment officer to his responsibilities at the $49 billion Massachusetts Pension Reserves Investment Management Board, where he already serves as executive director. MassPRIM’s board formally approved the appointment after the state’s treasurer, Steve Grossman, suggested that he take the role to help jump start hiring at the pension following a slew of departures.
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This week, peHUB thought it would be of interest to showcase the position of senior investment officer, private equity at the $49.2 billion Massachusetts Pension Reserves Investment Management Board (PRIM).
Stanley Mavromates Jr., MassPRIM’s chief investment officer since 2005, announced he is leaving the $50 billion pension system to be CIO of consulting firm Mercer.
Freeman Spogli & Co. has finally closed its sixth fund with $735 million in commitments, Partner Bill Wardlaw told sister magazine Buyouts.
The fund fell well short of its $1 billion target. But, said Wardlaw, “given the fundraising environment, we were pleased with what we got.”
There must be some relief and exhaustion on the part of Wardlaw and his colleagues too.