Louisiana Teachers seeks large-cap value manager

Louisiana Teachers' Retirement System, Baton Rouge, issued a solicitation for proposals for an active domestic large-cap value equity manager to run about $775 million, confirmed Dana Brown, director of public markets.

The $15 billion pension fund is conducting the search because incumbent LSV Asset Management's contract is expiring. LSV is invited to rebid.

The SFP is available from the fund's website. Proposals are due at 4:30 p.m. CDT on Aug. 9. A decision is expected no later than October.

The pension fund also committed up to $75 million to EIG Energy Fund XVI, a private equity energy fund managed by EIG Global Energy Partners, and up to $50 million to Oaktree Real Estate Opportunity Fund VI, managed by Oaktree Capital Management (OAK). Both are first-time commitments. Hamilton Lane assisted.

Also, the pension fund announced AllianceBernstein (AB), MacKay Shields and Western Asset Management as finalists in its search for an active global high-yield manager to run about $325 million.

An SFP was issued in May due to the pending contract expiration of current manager Shenkman Capital Management. The firm did rebid for the services.

Finalist presentations are scheduled for the Aug. 5-6 board meeting. Hewitt EnnisKnupp is assisting.