Pennsylvania Public School Employees' Retirement System, Harrisburg, hired Bridgewater and Brown Brothers Harriman to run $800 million each in Treasury inflation-protected securities, said Alan van Noord, CIO. The $47.5 billion pension fund is putting 5% of its assets into TIPS; the remainder of the $2.3 billion allocation will be managed internally. Funding is coming from the fund's domestic small-cap and midcap equity portfolios; Mr. van Noord would not specify which managers were affected.
Separately, the system is in contract negotiations to hire three alpha overlay managers to run a combined $3.6 billion; Mr. van Noord would not provide further details.
