- Peony Keve left in late November
- System searching for her replacement
- Keve worked at MassPRIM for seven years
Peony Keve, an investment officer in private equity at the Massachusetts Pension Reserves Investment Management Board, left the system, a spokeswoman confirmed.
Keve’s last day was November 27 and MassPRIM is searching for someone to replace her, the spokeswoman said. It’s not clear if Keve left to take another job. She could not be reached for comment.
Keve worked at the system for seven years, according to her LinkedIn profile. She was a member of the three-person private equity team led by Michael Bailey. The other members of the team are Senior Investment Officers Michael McGirr and Eric McCafferty.
Prior to MassPRIM, Keve worked at Putnam Investments for two years, her LinkedIn profile said.
MassPRIM, with $60.7 billion in total assets, has a 10 percent allocation target for private equity. Its actual allocation to the asset class, as of October 31, was 11.2 percent. The net asset value of the private equity portfolio was about $6.8 billion as of October 31, according to MassPRIM.
The portfolio generated a 17.75 percent return over the one-year period and a 20.30 percent return over three years, the system said. Over 10 years, the portfolio produced a 16.25 percent return.
Action Item: See MassPRIM’s most recent performance summary here: http://bit.ly/1NBNhtN
Photo courtesy of Shutterstock