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MassPRIM hires former Bain Capital, BoA Capital execs for private equity unit

12 Mar 2014

interview hire job suit tieMassachusetts’ $57.9bn pension fund has hired former Bain Capital investment manager Michael McGirr to replace senior investment officer Scott Hutchins, who left for Solamere Capital.

The LP has also hired Erin McCafferty from Bank of America Capital Advisors as an investment officer, filling a position Hutchins vacated when he was promoted in 2011 according to Pensions & Investments.

It said the pair will being helping to run MassPRIM’s $6bn private equity portfolio from April 7.

AltAssets revealed last December that MassPRIM had made a $150m commitment to the latest fund being raised by Onex, Canada’s biggest buyout firm.

The investment means MassPRIM has committed more than $780m to private equity firms in 2013, although that is short of the $1bn target it set itself for investing in the asset class this year.

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