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Massachusetts Mutual Life Insurance Company will transition its direct private investments team to Barings.
The firm has taken a minority ownership stake in Altan Asset Management.
The plan expects to conclude the search process in the third quarter.
He is responsible for business development and capital raising activities across the firm’s global private equity strategies.
The plan’s private equity committee considered three commitments totaling $90 million this month.
The district has found a firm to manage its up to $150 million in assets.
Thomas H. Lee, a pioneer of leveraged buyout private equity, died on Feb. 23.
The plan committed $75 million to a new manager last week.
The firm welcomed a former team member as a co-portfolio manager on one of its large-cap growth strategies.