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October 27, 2014 01:00 AM

New Hampshire commits to co-investments with BlackRock, terminates PIMCO

Rob Kozlowski
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    New Hampshire Retirement System, Concord, committed $150 million to a private equity co-investment strategy managed by BlackRock Private Equity Partners, spokesman Marty Karlon said.

    The $7.3 billion pension fund's commitment will take place over the next three to five years, Mr. Karlon said.

    Separately, the pension fund terminated Pacific Investment Management Co. from a $200 million active domestic core-plus fixed-income portfolio. The account had been cut in half in August as part of an effort to diversify the pension fund's fixed-income portfolio when it hired GAM USA to run $200 million in an unconstrained fixed-income portfolio.

    Mr. Karlon said assets from the PIMCO termination will be allocated to a global multisector fixed-income manager to be chosen at the Nov. 21 investment committee meeting.

    Multiple pension funds have terminated PIMCO in recent weeks following the resignation of William H. Gross, PIMCO co-founder and chief investment officer, on Sept. 26, but Mr. Karlon said the pension fund had no further comment.

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