Louisiana School Employees' Retirement System, Baton Rouge, hired Ark Asset to run about $110 million in active domestic large-cap growth equities, said Julia LeBlanc, CIO. Ark will replace Harbor Capital, which chose not to rebid, Ms. LeBlanc said. Harbor was hired in 1994, and trustees began the search because they felt it was time to do their due diligence and consider other firms, she said.
Harbor ran about $124 million for the $1.4 billion system; the balance of the portfolio will be used to pay benefits.
Segal Advisors assisted.