Louisiana Teachers commits $50 million to NGP natural resources fund

Louisiana Teachers' Retirement System, Baton Rouge, committed up to $50 million to NGP Natural Resources XII, managed by NGP Energy Capital Management, said Dana Brown, director of public markets.

The $18.5 billion pension fund previously committed up to $50 million to NGP Natural Resources XI in November 2014.

Separately, the pension fund named AEW Capital Management, Brookfield Asset Management, Dimensional Fund Advisors and Principal Real Estate Investors as finalists in its search for a global real estate investment trust manager.

The pension fund issued a solicitation for proposals for its first global REIT managers in June. It likely will hire one or two managers to run a total of between $375 million and $400 million. Funding will likely come from equities; no managers will be terminated.

The pension fund's board will conduct finalist interviews at its Sept. 7-8 meeting, with a decision expected shortly thereafter.

Investment consultant Aon Hewitt Investment Consulting is assisting with the search.