Louisiana Teachers' Retirement System, Baton Rouge, hired Pacific Investment Management Co. to run $400 million in global fixed income, confirmed Dana T. Brown, director of public markets at the system.
The other finalists were Wellington Management and Franklin Templeton. GAM previously managed the portfolio and rebid.
Additionally, the system committed up to $75 million to ICG Europe Fund V and up to $50 million to TPG Growth Fund II.
Separately, the $14.1 billion system named Brown Advisory, T. Rowe Price, Boston Co. Asset Management and Westfield Capital Management as finalists in a search for at least one manager to run more than $600 million in active domestic large-cap growth equities. Finalist presentations followed by a decision will be made at next month's board meeting Aug. 1-2.
Aletheia Research & Management now manages the portfolio. The system's investment consultant, Hewitt EnnisKnupp, in April had recommended that the firm be terminated because of the legal controversies surrounding the firm.