MassPRIM names Michael Bailey as head of private equity investments

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The Massachusetts Pension Reserves Investment Board (MassPRIM) has named Michael Bailey as its new senior investment officer and director in charge of the $51bn pension schemes’ private equity investments.

While the position is still listed as vacant on MassPRIM’s website, a number of news reports have said that Bailey has been named as the successor to Wayne Smith, who left the role back in July 2011.

The fund has some $5.9bn allocated to the space, with over 100 manager relationships across private equity, venture capital and distressed debt strategies.

Bailey joins from Boston-based endowment manager HighVista Strategies and is set to begin in the new role in February.

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