Vermont Pension Investment Committee, Montpelier, hired BlackRock to manage $200 million in global equities with a low-carbon focus, according to Andy Cook, an investment analyst with the Vermont State Treasurer's Office.
The separately managed account will be a "global index fund that seeks to invest in companies that are well-positioned to maximize returns and minimize risks associated with the transition to a global, low-carbon economy," Mr. Cook said in an email.
The hire was made on behalf of the $5.3 billion Vermont State Retirement Systems and was approved at a committee meeting Tuesday, Mr. Cook said.
As of Feb. 28, the Vermont State Retirement Systems' actual allocation to global equities was 40.4%. Its target allocation is 29%.
The three pension funds that make up the Vermont State Retirement Systems are the Vermont Municipal Employees' Retirement System, Vermont State Teachers' Retirement System and the Vermont State Employees' Retirement System.
