Louisiana State Employees’ Retirement System, Baton Rouge, hired Capital Guardian Trust to run $180 million in active international small-cap core equities, subject to contract negotiations, said system CIO Bobby Beale. The $9 billion system’s board terminated the portfolio’s previous manager, Boston Co. Asset Management, because of organizational changes at the firm. The system had issued an RFP in November. Consultant NEPC assisted.
Separately, the board decided to invest between $180 million and $200 million in the TCW Opportunistic Mortgage Backed Securities Fund. Funding will come from adjusting the system’s overall fixed income portfolio; no managers will be terminated, Mr. Beale said.
