Louisiana Firefighters' Retirement System, Baton Rouge, is selecting finalists to manage three asset classes, said Steven Stockstill, executive director. The $700 million pension fund is seeking money managers for high-yield, international equity and REIT portfolios; portfolio sizes and investment style have not been determined. The hires are being made for diversification. At the fund's Friday board meeting, investment consultant Consulting Services Group recommended 10 candidates for each asset class, culled from responses to an RFP issued earlier this year. The board scheduled a special meeting Aug. 23 to choose the finalists, probably three in each asset class.
The high-yield and REIT investments will be the fund's first; it has $20 million in an EAFE index fund run by Northern Trust.