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Treasury to reveal PPIP manager names in 1-2 wks -official

Thu Jun 4, 2009 11:29pm IST
 
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NEW YORK, June 4 (Reuters) - The U.S. Treasury is aiming to announce in one to two weeks the names of the fund managers who will run its public private investment partnership, a Treasury official said on Thursday.

The Treasury has narrowed down the list of managers for its public private investment partnership to less than 20, David Miller, director of investments at the Office of Financial Stability at the Treasury said. That number of initially prequalified managers will be further whittled down to between five and ten managers, he added.

"We'd like to announce within one or two weeks, the managers in the process," Miller said on the sidelines of a conference hosted by financial industry group SIFMA, after being asked about the timeline for picking fund managers for the program.

Earlier, Miller said in a speech to bankers and investors that there were a variety of different funds in the running, but that the Treasury is not targeting specialized niche funds.

(Reporting by Al Yoon and Kristina Cooke, Editing by Chizu Nomiyama)

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