Louisiana Firefighters' Retirement System, Baton Rouge, hired Stone Harbor Investment Partners to run about $63 million in active emerging markets debt, confirmed Kelli Chandler, investment officer.
The $1.3 billion pension fund issued an RFP in June. Other finalists were Mondrian Investment Partners and Pacific Investment Management Co.
It is the pension fund's first allocation to emerging markets debt in several years, Ms. Chandler wrote in an e-mail. Funding comes from cash.
Investment consultant NEPC assisted.
