Indiana State Teachers' Retirement Fund, Indianapolis, hired BlackRock to manage $100 million in active Treasury inflation-protected securities, said Molly E. Deuberry, director of communications and outreach for the $7.9 billion fund.
Funding will come from a reallocation across the fund. The fund's board made the move for diversification.
Callan assisted in the shortlist search. No RFP was issued.
Lehman wants to use former sub Neuberger Berman to sell assets
Lehman Brothers Holdings is seeking permission to hire Neuberger Berman to sell a portfolio of asset-backed securities totaling $180 million.
According to a filing in U.S. Bankruptcy Court in New York, Lehman Brothers said it would be more efficient for the court to give it and Neuberger Berman “advance authority” to sell the securities, rather than requiring court approval for each security sale. Lehman Brothers' Creditors' Committee will have the opportunity to review all sales, the company said in its filing.
Neuberger Berman officials were not available for comment, said Richard Chimberg, a company spokesman.
Lehman Brothers Holdings filed for Chapter 11 bankruptcy protection in mid-September 2008. Neuberger Berman had been a subsidiary of Lehman Brothers until it was bought out by management in May.
A hearing to approve Neuberger Berman's hiring is scheduled for Jan. 13.
Morgan Stanley gets picked for alts by London Borough
London Borough of Newham Pension Fund hired Morgan Stanley to run about £60 million ($96 million) in a diversified alternatives strategy, said David Dickinson, principal finance officer for the £625 million fund.
Morgan Stanley will be able to span alternative strategies but will not duplicate the fund's investments in infrastructure, private equity and real estate.
Funding came from reducing a passive equity portfolio run by Legal & General Investment Management to £150 million.
Separately, Barnett Waddingham was hired as actuary and investment consultant, replacing Mercer as actuary and Hewitt as investment consultant.
The fund performed two separate searches for the roles, however Mr. Dickinson said fund officials preferred selecting a single provider.
New York State Common plans another $590 million to alts
New York State Common Retirement Fund, Albany, committed a total of $590 million to alternative investment funds in November, according to a monthly report from Thomas P. DiNapoli, state comptroller and the $126 billion fund's sole trustee.
In private equity, $15 million was committed to Clearlake Capital Partners II as part of the fund's emerging manager program, and a follow-on commitment of $25 million was made to DeltaPoint Capital IV.
A $100 million hedge fund commitment was made to both the credit-oriented Brigade Leveraged Capital Structures Fund and long/short equity manager Level Global. A $100 million follow-on commitment was made to Perella Weinberg Partners' Xerion Fund, a credit-focused hedge fund.
An additional $250 million was committed to York Distressed Mortgage Fund.
The amounts the fund has in the existing investments could not be learned.