Baton Rouge (La.) & Parish of East Baton Rouge Employees' Retirement System named Fiduciary Asset Management, Harvest Fund Advisors and Tortoise Capital Advisors as finalists to run $30 million to $50 million in a master limited partnership portfolio, confirmed Jeff Yates, retirement administrator.
It is the $1 billion pension fund's first entry into MLPs, said Mr. Yates. An invitation-only search was conducted earlier this year by investment consultant Summit Strategies Group.
Funding will come from domestic equity; no managers will be terminated, Mr. Yates said.
Finalist presentations will take place at the pension fund's Sept. 24 investment committee meeting. The earliest a decision could be made would be at the Sept. 26 board of trustees meeting. One firm will be selected.