Louisiana School Employees' Retirement System, Baton Rouge, later this year will search for at least one real estate manager to run up to $45 million, said Julia LeBlanc, CIO. The board of the $1.5 billion system likely will approve the wording of the RFP, the plan's first in the asset class, by late summer. She said criteria for the search have not yet been set, but the search will target managers that diversify by property type and geographic location. A funding source has not been determined. The plan's asset allocation was 49% domestic equity, 40% bonds, 8% international equity and 3% cash as of March 31.
Segal Advisors will assist with the search.