Teachers Retirement System of Louisiana, Baton Rouge, will issue an RFP June 14 for three active EAFE managers to run a total of $900 million due to contract expirations, said Dan Bryant, CIO, for the $10.2 billion fund. Proposals will be due July 30. Mr. Bryant will not address inquiries before June 14. Incumbents Scudder Kemper, Smith Barney Asset Management and WorldInvest are expected to rebid.
A decision is expected by October.
Separately, Mr. Bryant said, Ariel Capital and Valenzuela Capital Partners were hired to each run $200 million in midcap value U.S. equity. They replace NM Capital and Fleet Investment Advisors, previously running $150 million apiece, for performance reasons. An additional $100 million from reducing large-cap growth U.S. equity investments will also fund the two allocations, he said.
"Were working hard to keep the account and until were notified that the account is terminated, we will reserve further comment, said Ellen Molle, spokeswoman for Fleet. Sue Bishop, spokeswoman for NM Capital, did not comment by press time.