Louisiana Teachers' Retirement System, Baton Rouge, hired Dimensional and Vontobel Asset Management to run up to $250 million each in active emerging markets equities, confirmed Dana T. Brown, director of public markets.
It's the $12.3 billion system's first allocation to emerging markets equities.
A contract start date and funding source have yet to be determined.
The system adopted an 8% target allocation to emerging markets equities in July following an asset allocation study by consultant Hewitt EnnisKnupp.
Separately, the system committed up to $75 million to Apollo Natural Resources and up to $12.5 million to EnCap Energy Capital VIII, a co-investment.