Louisiana Teachers Retirement System, Baton Rouge, hired Aletheia Research and Management to run about $700 million in active domestic large-cap growth equities, pending contract negotiations, said Bob Leggett, CIO of the $15 billion system.
Aletheia replaces large-cap growth managers Smith Asset Management Group and Atlanta Capital Management, which were allowed to rebid. An RFP was issued in April. Consultant Hammond Associates assisted.
Separately, the board made commitments of $100 million to First Reserve XII fund and $75 million to Falcon Strategic Partners III fund, both private equity funds. Hamilton Lane Advisors, the funds private equity consultant, decided on the alternative investment commitments, and the board did not veto the decisions, Mr. Leggett said.