Selection of Custodian and Transition Management BenchMarch 23, 2021
The Board of Trustees selected Northern Trust to serve as the FPIF custodian at its meeting on March 19, 2021. Northern Trust is headquartered in Chicago, IL. Northern Trust will provide traditional custodial banking services to FPIF and perform key transition services related to the transfer of investment assets from our 296 Firefighters’ Pension Funds.
FPIF Transition Management Bench
The Board of Trustees selected five transition management firms with substantial experience performing complex investment transitions at its meeting on March 19, 2021. The selected firms will be included on FPIF’s bench of transition management firms and utilized during the transition period and for complex portfolio transactions after conclusion of the transition period. The five firms selected include BlackRock Institutional Trust Company; Loop Capital Markets; Macquarie Group; Northern Trust; and Russell Investments Implementation Services.