After nearly ten years at Massachusetts Pension Reserves Investment Management, Eric Nierenberg is stepping down.
The chief strategy officer’s last day at the $97 public pension fund was Thursday, according to a source familiar with the matter. It is unknown where Nierenberg is heading next.
Nierenberg was previously named one of Institutional Investor’s 2017 Rising Stars and one of II’s 2018 Most Wanted Allocators.
He joined MassPRIM in 2012 as a senior investment officer, directing hedge funds and low volatility strategies. He was promoted to his current role, chief strategy officer, in early 2017, as a part of a push to innovate at the fund.
That year, Nierenberg created a plan alongside Bill Li, senior investment officer at the fund, to deploy a derivatives instrument called a put spread collar to reduce the volatility of the fund. The two also developed MassPRIM’s emerging manager direct hedge fund program, meeting documents show.
In addition to his work for MassPRIM, Nierenberg — who holds a Ph.D. from Harvard University in business economics — teaches graduate finance courses at Brandeis University.
Prior to joining MassPRIM, Nierenberg spent seven years as a quantitative equity portfolio co-manager at Lee Munder Capital Group, a Boston-based investment management firm. He has also worked for Independence Investments and Charles River Associates.