Louisiana Teachers' Retirement hires AllianceBernstein for small-cap growth
By Rob Kozlowski | January 10, 2013 2:27 pm
Louisiana Teachers' Retirement System, Baton Rouge, hired AllianceBernstein (AB) to run up to $250 million in active domestic small-cap growth equities, confirmed Dana Brown, director of public markets.
The $13.9 billion pension fund issued a solicitation for proposals in October on the recommendation of investment consultant Hewitt EnnisKnupp, which thought it was an appropriate time to put the strategy out to bid. Incumbent manager Perimeter Capital Management was invited to rebid but was not named a finalist.
Other finalists were Fred Alger Management and Janus Capital Group.
Separately, the pension fund also committed up to $50 million to EnCap Investments' EnCap Energy Capital Fund IX and up to $20 million to Sares Regis Multifamily Fund, a real estate fund.