Kentucky Teachers assigns passive international equity to BlackRock

Kentucky Teachers' Retirement System, Frankfort, hired BlackRock to run $300 million in a passive ACWI ex-U.S. Investible Market index fund, confirmed Gary Harbin, executive secretary of the $16 billion pension fund.

Investment consultant Hewitt EnnisKnupp assisted with the shortlist search, which was launched in November.

The pension fund has a 17% allocation to international equity; BlackRock is its first international manager to run a passive portfolio. Funding will come from rebalancing within the active international equity portfolios.

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