bing news | NYC Pensions Seeks Bids for Index Funds Run by BlackRock, State Street
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New York City’s pension system announced it is soliciting bids for approximately $92 billion of stock index‑tracking funds that are currently managed by BlackRock Inc. and State Street Investment Management, as the existing contracts expire at the end of the year. All interested firms, including the incumbent managers, may submit proposals by July 15, according to City Comptroller Mark Levine. At present, BlackRock oversees about $65 billion of passively managed equity funds for the pension plans, while State Street administers more than $27 billion.
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