The Massachusetts Pension Reserves Investment Management Board has made $540 million in allocations to three portable alpha fund of hedge funds managers as part of a strategic shift.

The plan hired Blackstone Alternative Asset Management to run $200 million, and allocated $170 million each to Austin Capital and EIM. The new portable alpha money comes from its domestic equity program.

MassPRIM fired five domestic equity managers, which had run $1.8 billion for the pension, earlier this month. It also terminated Bridgewater Associates, which had managed a $591 million global inflation-linked bond portfolio. MassPRIM denied two Bridgewater requests, one to adopt a pure alpha strategy for the portfolio, and another to wind down the portfolio over a 12-month period.