Louisiana Teachers' Retirement System, Baton Rouge, is searching for global real estate investment trust managers to run a total of between $360 million and $400 million, said Dana Brown, director of public markets.
The $18.1 billion pension fund will issue a solicitation for proposals soon for its first global REIT managers. Mr. Brown said how many managers the pension fund hires depends on the submitted proposals. Funding will likely come from domestic and/or international equities; no managers will be terminated.
The SFP, which was approved by the board at its June 1 meeting, will be posted within the next day on the pension fund's website. Proposals will be due July 3. A decision is expected on Sept. 8.