Pension fund also rehired 2 domestic equity managers, committed $200 million
Louisiana Teachers' Retirement System, Baton Rouge, is searching for a private markets consultant, said Dana Brown, director of public markets.
The $20.1 billion pension fund will issue a solicitation for proposals imminently because of the pending contract expiration of current private markets consultant Hamilton Lane. The firm is eligible to rebid.
The SFP will be posted on the pension fund's website. Proposals will be due in early October, with finalist interviews tentatively scheduled for early December.
Separately, the pension fund rehired LSV Asset Management and Macquarie Asset Management to run about $600 million each in active domestic large-cap value equities. The pension fund issued an SFP in June. The pension fund's board on Thursday voted to eschew naming finalists and to hire the incumbents.
Investment consultant Aon Hewitt Investment Consulting assists with all SFPs.
Also, the pension fund committed up to $75 million to Lone Star Fund XI, a real estate debt fund managed by Lone Star Funds, up to $50 million to middle-market private equity fund Lindsay Goldberg V, up to $50 million to buyout fund Thoma Bravo Fund XIII and a follow-on commitment of up to $25 million to NGP Natural Resources XII, managed by NGP Energy Capital Management.
The pension fund previously committed up to $75 million to Lone Star Fund X in 2016, up to $75 million to Lindsay Goldberg IV in 2014 and up to $50 million to NGP Natural Resources XII in 2017. The pension fund's commitment to Thomas Bravo was its first to that manager.
Hamilton Lane assisted.
As of May 31, the pension fund's actual allocations to domestic equities, private equity/venture capital and real estate were 30%, 13% and 8%, respectively.