St. Louis Public School Retirement System hired Mellon Investments to run a $25 million Treasury inflation-protected securities portfolio.
The $838 million pension fund's board approved the hiring of Mellon following a shortlist search conducted by investment consultant NEPC. It is a new strategy for the pension fund. The funding source was not provided.
BlackRock and RhumbLine Advisers were the other finalists.
The board approved the investment committee's recommendation at its Aug. 19 meeting, recently released minutes show.
Mellon Investments already was manager of a $14 million global tactical asset allocation portfolio and a $4 million passive domestic large-cap core equity portfolio for the pension fund.
Andrew Clark, executive director, did not immediately return a phone call seeking further information.