Louisiana State Employees' Retirement System, Baton Rouge, hired HarbourVest to manage $75 million in a private equity fund of funds and committed $50 million to a merger arbitrage hedge fund run by Halcyon/Alan B. Slifka, said Bob Borden, CIO of the $5.7 billion fund.
Fund officials are expected to choose additional strategies, said Mr. Borden. Funding for the new portfolios will come from a liquidated real estate portfolio.
Separately, the board named four finalists in the search for an international small-cap equity manager to run a $125 million portfolio: Morgan Stanley; Invista; Montgomery Asset Management; and incumbent Schroder.
New England Pension Consultants is assisting.