Louisiana Teachers' Retirement System, Baton Rouge, rehired Voya Investment Management to run about $325 million in active domestic midcap growth equities, said Dana Brown, director of public markets.
The $20.1 billion pension fund issued a solicitation for proposals in May because of the pending expiration of Voya's contract. The pension fund's board at its Friday meeting voted to retain Voya and eschew finalist presentations.
Investment consultant Aon Hewitt Investment Consulting assisted.
Separately, the pension fund committed up to $75 million to Blackstone Energy Partners III, a private equity energy fund managed by Blackstone Group. TRSL previously committed $100 million to Blackstone Energy Partners II in 2014.
The pension fund also committed up to $50 million each to Cabot Industrial Core Fund II, a real estate fund managed by Cabot Properties; FCP Realty Fund IV, a value-added real estate fund managed by Federal Capital Partners; Technology Crossover Ventures X, a private equity fund that focuses on technology firms; and buyout fund TPG Partners VIII. They are the first commitments to funds managed by Cabot and FCP; the Louisiana Teachers fund previously committed to Technology Crossover Ventures IX in 2015 and TPG Real Estate Fund III in May.
As of March 31, the pension fund's actual allocations to real estate and private market debt were 8% and 6%, respectively.