New York City Employees Retirement System awarded $5.6 billion in fixed-income mandates, said Jane Levine, deputy comptroller for pensions. All of the $44 billion systems current fixed-income contracts expire June 30.
For corporate bonds, it hired BlackRock to manage $625 million; T. Rowe Price, $695 million; Taplin Canida, $625 million; and Prudential, $475 million. For Yankee bonds, it hired Fischer, Francis Trees & Watts, $187 million; and Prudential, $187 million. For government bonds, the plan hired Lincoln Capital, $1.65 billion; State Street Global, $575 million; and PIMCO, $575 million. All hires are pending successful contract negotiations.