By Ross Kerber

June 12 (Reuters) - BlackRock will have a chance to keep managing New York pension money as City Comptroller Mark Levine opened a rebidding process widely on Friday despite his predecessor's call for the city to drop the manager over its climate record.

In one of his last acts in office, Levine's predecessor Brad Lander in November recommended major city pension funds drop BlackRock and rebid its public equities index mandates.

Lander made the move in response to what he saw as BlackRock's retreat on climate concerns, with the asset manager putting less pressure on portfolio companies as appointees of U.S. President Donald Trump gained oversight of the finance industry.

But Levine has been in no hurry to execute Lander's wishes in his oversight of the pension fund holdings that include some $127 billion held in public equity investments, $80 billion of which is in passive index products. BlackRock and State Street STT.N are large managers of those funds, with BlackRock managing $62 billion across all public equities for the city.

New York Mayor Zohran Mamdani has not spoken about BlackRock although he too has influence over city pension funds and once campaigned as a Lander ally. Mamdani's office has not responded to questions about his intentions.

Bids for the public equity index services were last solicited in 2017 and have been extended several times since by pension boards, setting up the new rebidding as a potential big inflection point for the assets.

"All managers are welcome to bid on this," a spokesperson for Levine said, when asked if Levine hoped BlackRock would seek to continue the work.

"We cannot keep these relationships on autopilot. I look forward to working with my fellow trustees to ensure we select the managers that meet our highest standards of performance," Levine said in a statement.

A BlackRock representative and State Street did not immediately comment.

A number of Republican officials, some from fossil-fuel-producing states, have withdrawn money from BlackRock and other money managers, accusing them of basing investment decisions on social or environmental issues.

Winning bidders of New York City's pension contracts will still have to meet the funds' existing climate standards.