Louisiana State Police Retirement System, Baton Rouge, hired INTECH to run a $35 million large-cap growth portfolio, confirmed Irwin Felps, executive director.
INTECH replaces Fayez Sarofim, which had managed the assets in a similar portfolio and was terminated. Mr. Felps said the termination was not due to performance. The hiring followed a shortlist search.
Separately, the plan will begin a shortlist search for its first real estate manager to run $10 million to $20 million in core real estate. Officials of the $375 million plan hope to complete the search by the end of the third quarter. Funding will come from the plan's approximately $140 million fixed-income portfolio.
Fund officials also expect to conduct a shortlist search in the fourth quarter for a timber manager to run $10 million to $20 million, and they could look at hedge fund firms next year.
UBS PRIME Asset Consulting Group is assisting.