New Jersey Division of Investment, Trenton, extended the deadline to receive proposals for one or more global custodians for its $80.1 billion in assets to Aug. 5, said spokesman Tom Vincz. Excluded from global custodian services is the $4.7 billion cash management fund, the single largest of 185 separate funds supporting the retirement benefits of 700,000 state employees. Contracts for the divisions current master custodian, US Bancorp, and international and alternatives custodian, Bank of New York, expire Sept. 30. Both can rebid.
Separately, the division plans to search this fall for an international developed equity markets manager to run part of its $18.1 billion international equity portfolio, Mr. Vincz said. Details on that search have not been finalized.