Louisiana Municipal Police Employees Retirement System, Baton Rouge, will begin a search for an active emerging markets equity manager in early October, confirmed Kathy Bourque, director.
The $1.6 billion pension fund increased its emerging markets equity target to 8% from 7% as a result of an asset allocation study completed in July. However, the pension fund currently has no money in the asset class. Ms. Bourque said the amount of the search has yet to be determined.
NEPC, the pension fund's investments consultant, will post the RFP on its website.
The pension fund also will search for an active international equity manager to run about $108 million sometime in the next year, Ms. Bourque said. The search is the result of the termination for performance of AllianceBernstein, which ran a similar portfolio for the same amount.
At its meeting Wednesday, the board of trustees voted to park the money in an MSCI EAFE index fund managed by BNY Mellon Asset Management.
AllianceBernstein spokesman Jonathan Freedman did not return a phone call seeking comment by press time.