New York City Police Department Pension Fund awarded $2.05 billion in fixed-income contracts through hirings and contract renewals, said Jane Levine, deputy comptroller for pensions.
The $18.5 billion system’s $1 billion in government bonds will be run by new manager PIMCO, which replaces Barclays Global and Putnam, and existing managers Lincoln and Fischer Francis.
The fund also hired Prudential and retained Fischer Francis for a portfolio of Yankee bonds that totals $150 million.
The fund also hired Conseco and BlackRock and re-hired Credit Suisse and T. Rowe Price to run $900 million in corporate bonds.
