RPT-US Treasury hires firms to manage TARP investments

(Repeats to additional subscribers)

WASHINGTON, April 22 (Reuters) - The U.S. Treasury Department said on Wednesday it has hired three asset management firms to oversee government investments made under the $700 billion Troubled Asset Relief Program, completing a selection process started in November.

The Treasury said it hired New York-based AllianceBernstein LP (AB.N), FSI Group LLC of Cincinnati and Piedmont Investment Advisors LLC of Durham, North Carolina to manage assets including senior preferred shares, senior debt equity warrants and other equity and debt obligations in companies ranging from banks to automakers. (Reporting by David Lawder)