NEWYORK: New York City Comptroller Mark Levine and trustees of the City’s five public pension systems (the Systems) announced the launch of a search for asset management firms to provide public equity passive indexing services.
This includes capitalization weighted indexes, smart beta/alternatively weighted indexes, or any other type of indexed portfolio (consistent with each System’s investment guidelines), such as those based on ESG factors and limits on carbon.
As of March 31, 2026 the Systems held $127.11 billion in public equity investments, with the majority invested in passive index products. The amount allocated to managers selected through this search will be determined based on the needs of each System.
The Comptroller’s Office will manage the search according to the City’s Procurement Policy Board Rules on behalf of the Systems. Each of the Systems’ board of trustees, in partnership with their general investment consultants and the Bureau of Asset Management, will engage in a rigorous review process to make the final selection of one or more firms that best serve their individual investment needs.
“Fulfilling our mandate of delivering strong returns for our public sector workforce and retirees requires ongoing review of our contractual relationships with each of our asset managers. We cannot keep these relationships on autopilot. I look forward to working with my fellow trustees to ensure we select the managers that meet our highest standards of performance,” said New York City Comptroller Mark Levine.
