Kentucky Retirement Systems taps BlackRock to manage $440 million in bond fund

Kentucky Retirement Systems, Frankfort, hired BlackRock (BLK) to manage $440 million in an intermediate bond index fund, said David L. Eager, interim executive director of the roughly $16 billion pension fund.

The retirement system also allocated an additional $100 million to Marathon Asset Management’s Bluegrass Credit Fund, bringing its total allocation to about $500 million.

Funding for both will come from a reduction to KRS’ internally and externally managed equity portfolios, with no manager terminations.