Philly Pension Earmarks $100M in Follow-ons to Five FI Managers

The City of Philadelphia Board of Pensions and Retirement committed $50M, alongside an additional conditional $50M commitment, in follow-on allocations to all five of its fixed income managers, as disclosed in recently published October 24 meeting minutes.

The city pension is planning additional $20M allocations for each of the fixed income strategies managed by Garcia Hamilton, RhumbLine, Longfellow, MetLife, and Brandywine, with investments to be split into two tranches: an initial $10M per manager to be made in October, and the remaining $10M in November, pending approval by the board following an update from the pension’s investment committee.

Per latest Dakota data, the Philadelphia pension manages plan assets totalling approximately $8.4B.

Written By: Dakota

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