Louisiana Teachers scouting for core bond managers, sets $150 million for 2 funds

Louisiana Teachers’ Retirement System, Baton Rouge, is searching for two active domestic core fixed-income managers to split a $900 million portfolio, said Dana Brown, director of public markets.

The $17.1 billion pension fund issued a solicitation for proposals due to the pending expiration of the contracts of current managers J.P. Morgan Asset Management (JPM) and PGIM Fixed Income. Both managers can rebid.

Proposals are due at 4:30 p.m. CST on March 6. A decision is expected on May 5. The SFP is available on the pension fund’s website.

Investment consultant Aon Hewitt Investment Consulting is assisting.

Separately, the pension fund committed up to $75 million to EnCap Energy Capital Fund XI, an oil and gas fund managed by EnCap Investments. The pension fund previously committed up to $75 million to EnCap Energy Capital Fund X in February 2015.

The pension fund also committed up to $75 million to buyout fund Silver Lake Partners V. It is the first commitment to a Silver Lake fund by the pension fund.