Denise Nappier, state treasurer and principal fiduciary for the $29 billion Connecticut Retirement Plans & Trust Funds, Hartford, announced five semifinalists for the pension fund's high-yield debt allocation.
In an e-mailed statement, Ms. Nappier said the managers that made presentations at the investment advisory council meeting on Wednesday were AllianceBernstein, Columbia Threadneedle Investments, DDJ Capital Management, Nomura Corporate Research and Asset Management, and Shenkman Capital Management.
An RFP was issued in February.
Ms. Nappier did not provide any additional information on when a final decision would be made.
The search was conducted because contracts for three of the four managers for the retirement system's $1.86 billion high-yield portfolio — Oaktree Capital Management, Shenkman Capital Management and Stone Harbor Investment Partners — expire in November. The contract for the fourth manager, Loomis Sayles & Co., doesn't expire this year. Oaktree and Stone Harbor rebid.