Hawaii Employees' Retirement System, Honolulu, hired J.P. Morgan Chase, Northern Trust, BNY Mellon, BlackRock and Russell Investments to be placed on a list of approved transition managers, confirmed Vijoy Chattergy, chief investment officer of the $11.7 billion pension fund.
J.P. Morgan and BNY Mellon were the previous transition managers. Northern Trust is also the pension fund's global custodian.
Managers will be selected on an as-needed basis.
An RFI was issued in September. Investment consultant Pension Consulting Alliance assisted.
