Louisiana Teachers' Retirement System, Baton Rouge, will search for an active international large-cap value equity manager to run about $400 million sometime in the first quarter, confirmed Dana Brown, director of public markets.
The $15.9 billion pension fund will issue a solicitation for proposals because the contract of current manager MFS Investment Management is expiring. The firm will be invited to rebid.
Later in the year, due to other pending contract expirations, the pension fund plans to issue SFPs for a global custodian and record keepers for its $1.6 billion Optional Retirement Plan. Current custodian Bank of New York Mellon and record keepers ING U.S. Retirement Solutions, TIAA-CREF and VALIC all will be invited to rebid.
Separately, the pension fund committed up to $100 million to Energy Capital Partners III, which invests in the North American energy market, and up to $50 million to Trident VI, a private equity fund focused on financial services that is managed by Stone Point Capital.
The pension fund also made two real estate commitments: up to $40 million to AEW Senior Housing Investors II, and up to $35 million to Campus Clarion Student Housing Partners, a joint venture between developer Campus Apartments and Clarion Partners.