New York State Pension Plan Fires BlackRock

Thursday, 16 Dec 2010 02:13 PM

 

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The New York state retirement fund, the nation’s third-largest public pension, fired a BlackRock Inc. fund that managed $1.6 billion in equities, according to Comptroller Thomas DiNapoli.

The plan’s investment was terminated in October, according to a monthly transaction report published today by DiNapoli’s office. DiNapoli is the sole trustee of the $132.8 billion fund. No reason for the action was stated in the report.

The BlackRock Russell 1000 Alpha Tilts large-cap account was the state plan’s biggest in that category among U.S. equity funds managed by outside firms, according to the system’s annual report. BlackRock, the world’s largest money manager with $3.45 trillion of assets, has invested money for the pension since November 2001.

© Copyright 2014 Bloomberg News. All rights reserved.

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