Daily Feed
The county government is seeking record keeping services for its deferred compensation plan.
Matthew Borstein has joined CIM Group as managing director and co-head of credit.
The search follows a private markets pacing schedule presented to the retirement system in January.
The deferred compensation plan hired an active domestic core fixed-income manager to complement its U.S. bond option today.
The retirement system’s current emerging markets equity manager was first hired in 2019.
The selected firm will handle the city’s various accounts totaling $716.6 million.
The new co-head has been with the firm since 2010.
BPC Opportunities Fund V raised over $750 million while the firm’s inaugural BPC Real Estate Debt Fund raised $545 million.
The pension plan’s general investment consultant will see its contract expire next year.
The investment board expects to appoint an executive director next month.