State Street Corp. was chosen by Indiana’s state pension plan to replace BlackRock Inc. as the manager of a roughly $970 million bond portfolio, after the retirement fund voted to oust the world’s largest money manager last year because of its environmental, social and governance efforts.
The Indiana Public Retirement System will transfer the portfolio’s assets to State Street next month, according to an update from the pension’s board released Friday. The plan’s board voted in December to replace BlackRock as the manager of the global inflation-linked bond investments.
Before the vote, state Treasurer Daniel Elliott, a member of the ...
