MassPRIM commits $350m to distressd debt funds

The US pension fund backed two distressed debt vehicles.

Massachusetts Pension Reserves Investment Management Board (MassPRIM) makes two investment in distressed debt strategies.

It commits $200 million to CarVal Investors’ CVI Credit Value Fund IV and approves up to $150 million to Canvas Capital Distressed Credit Strategy.

It allocates approximately 11 percent of AUM to private equity investments, which include private credit strategies.

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