Kentucky Teachers assigns passive international equity to BlackRock
By Kevin Olsen | January 24, 2013 11:36 am
Kentucky Teachers' Retirement System, Frankfort, hired BlackRock (BLK) to run $300 million in a passive ACWI ex-U.S. Investible Market index fund, confirmed Gary Harbin, executive secretary of the $16 billion pension fund.
Investment consultant Hewitt EnnisKnupp assisted with the shortlist search, which was launched in November.
The pension fund has a 17% allocation to international equity; BlackRock is its first international manager to run a passive portfolio. Funding will come from rebalancing within the active international equity portfolios.