Connecticut Retirement Plans & Trust Funds, Hartford, hired four managers to run a total of $1.34 billion in emerging markets debt strategies at its investment advisory council meeting Wednesday.
The four firms are incumbent managers Ashmore Investment Management and Fidelity Institutional Asset Management, and new managers Payden & Rygel and Prudential Fixed Income.
An RFP was issued in February.
The emerging markets debt allocation was originally managed by Ashmore; Fidelity Institutional (formerly Pyramis Global Advisors); and Stone Harbor Investment Partners.
Aon Hewitt Investment Consulting, general investment consultant to the treasurer's office, advised Treasurer Denise L. Nappier, principal fiduciary for the $29.6 billion pension fund, during the search.
No specific allocations have yet been determined. The awards are contingent on successful contract negotiations.
