Nebraska Investment Council, Lincoln, hired bank loan managers Franklin Templeton InTempleton Investments and Loomis Sayles to run about $275 million each, confirmed Jeffrey W. States, state investment officer.
The council, which oversees $20 billion, including $11.1 billion in defined benefit plan assets, had established a 5% target allocation to bank loans in November. Funding will come from reducing each of the domestic core fixed-income portfolios of BlackRock, Loomis Sayles, Pacific Investment Management Co. and Rogge Global Partners by about $137 million each.
Investment consultant Hewitt EnnisKnupp assisted.