San Luis Obispo County (Calif.) Pension Trust hired Dodge & Cox and BlackRock to manage about $105 million each in core or core-plus fixed income, subject to contract negotiations, said Carl Nelson, executive secretary and chief investment officer.
Dodge & Cox and BlackRock will replace PIMCO, which is being terminated from a $210 million core-plus fixed-income separate account because of organizational changes at the firm over the past year.
In October, the $1.2 billion pension fund directed its investment consultant, Wurts & Associates, to conduct a shortlist search for potential replacement managers for Pacific Investment Management Co.
