Tucson (Ariz.) Supplemental Retirement System hired BlackRock, Macquarie Capital and Penserra Securities as transition managers, recently released board meeting minutes said.
The $748 million pension fund launched an invitation-only search in March. Investment consultant Callan Associates suggested the pension fund identify a pool of managers “for a variety of transition types and pay per transition,” earlier minutes said.
State Street Corp. was the other finalist.
Further information could not be learned by press time; Silvia Navarro, treasury administrator in the city's finance department, which oversees the pension plan, did not return a phone call by press time.