New York City Police Department Pension Fund allocated a total of $730 million to seven EAFE managers, said Jon Lukomnik, New York City deputy comptroller. For active management, the $14.7 billion fund hired GE Investments for $150 million; Bank of Ireland Asset Management for $65 million; Invista Capital, $25 million; Rowe Price-Fleming, $200 million; and Oechsle and Putnam Investments, $100 million each. Barclays Global received $90 million for a passive EAFE mandate.
The fund also committed $50 million to FDG Capital Partners, a private equity partnership. In addition, a $36 million enhanced high-yield portfolio was split between Alliance Capital and Loomis Sayles. The money came from Schroders, formerly an enhanced high-yield manager for the fund. Other allocations and commitments were funded from cash.
A Schroders spokeswoman said the firm resigned as a high-yield manager for the fund during the first quarter.