Boston Retirement System allocates $220 million to 2 managers, rehires custodian

Boston Retirement System has hired two managers to run a total of $220 million and a custodial bank, said John Kelly, the pension fund's investment analyst.

The $4 billion pension fund's board selected GoldenTree Asset Management as a diversified credit opportunities manager to run about $120 million. It also hired Hamilton Lane to manage about $100 million in aggregate commitments over three years in private equity funds of funds.

The system also rehired State Street Corp. (STT) as its custodian.

The diversified credit opportunities manager search began in May, while the private equity manager search began in June. The RFP for a custodian was issued in September.

Mr. Kelly did not say at press time who the finalists were in each search.

NEPC, investment consultant to the pension system, assisted with the searches.