Connecticut Retirement Plans & Trust Funds, Hartford, named BlackRock, Colchester Global Investors, New Century Advisors and Pacific Investment Management Co. as finalists for a global Treasury inflation-protected securities search, confirmed David Barrett, a spokesman for Treasurer Denise Nappier, the pension system's principal fiduciary.
The $25.9 billion pension fund is seeking one or more global TIPS managers. A total of 16 firms responded to the RFP issued April 12.
Brown Brothers Harriman & Co. and Hartford Investment Management Co. managed about $518 million and $367 million, respectively, in domestic Treasury inflation-linked bond strategies as of June 30.
Funding will come from reducing the domestic TIPS managers' allocations. Decisions regarding manager allocations, including allocations between domestic and global TIPS, have yet to be made.
A hiring decision is expected to be made before the end of the year.