Louisiana Municipal Police Employees Retirement System, Baton Rouge, is conducting invitation-only searches for two managers, confirmed Henry Dean, chairman of the $1.5 billion systems board. One firm will manage $140 million to $150 million in core-plus fixed income and the other will handle $140 million in international value equities. The board wants to move Orleans Capital Managements core fixed-income portfolio to a core-plus strategy, Mr. Dean said. Orleans Capital has bid for the core-plus mandate.
The systems search for an international value manager was prompted partly by the performance of the portfolios current manager, Pyrford International, Mr. Dean said. A Pyrford official declined comment. Manager selections are expected by the end of May. Summit Strategies assisted.