NYC Pensions Seek Bids for $92 Billion in Index Funds as 2026 Contracts Expire
Updated
Updated · New York City Comptroller · Jun 12
NYC Pensions Seek Bids for $92 Billion in Index Funds as 2026 Contracts Expire
3 articles · Updated · New York City Comptroller · Jun 12
Summary
$92 billion of New York City pension index funds is being put out for bid as Comptroller Mark Levine and the five pension boards launch a search for passive equity managers.
July 15 is the deadline for proposals, with the review covering capitalization-weighted, smart-beta and other indexed portfolios, including strategies tied to ESG factors and carbon limits.
BlackRock and State Street, the incumbent managers, currently oversee the funds up for rebid, with existing contracts due to expire by the end of 2026.
The systems held $127.11 billion in public equities as of March 31, with most assets in passive products, underscoring the scale of the procurement and its importance for retirees and city workers.