Chris Witkowsky

The Massachusetts Pension Reserves Investment Management Board has approved a list of five private equity firms with which the system can co-invest, according to board materials for MassPRIM’s meeting earlier this month.

Another investment professional has left H.I.G. Bayside while the firm is out trying to raise $1 billion for H.I.G. Bayside Loan Opportunity Fund IV, according to three people with knowledge of the situation.

Linden LLC is aiming for a first close on about $500 million for its third fund, which is targeting $600 million, according to a person with knowledge of the fundraising.

Tim Armstrong, a managing director in H.I.G. Capital’s middle-market business, is leaving the firm after six years.

Guardian Life Insurance Company of America has hired two private equity professionals recently as it expands its internal team focusing on the asset class.

Insight Venture Partners is expected to hold a first close this month on its ninth flagship fund, which has been in the market targeting $2.75 billion, according to two people with knowledge of the fundraising.

Pennsylvania’s top financial watchdog recently added his voice to the chorus calling for more transparency in private equity and for lower fees, while spokeswomen for two pension funds called out for criticism said they were doing good jobs on both counts.