Louisiana Municipal Police Employees' Retirement System, Baton Rouge, named six finalists in its search for its first active emerging markets equity managers.
The finalists are Acadian Asset Management, AQR Capital Management, Dimensional Fund Advisors, Eaton Vance, OFI Global Asset Management and Thornburg Investment Management, confirmed Kathy Bourque, director of the $1.7 billion pension fund.
The pension fund plans to hire two managers to split evenly a total of $125 million. An RFP was issued in October following the completion of an asset allocation study in July that increased its emerging markets equity target to 8% from 7%. The specific funding source has yet to be determined.
The pension fund does not currently have any money in the asset class. Finalist presentations will take place at the Feb. 19 board of trustees meeting, with a decision expected shortly thereafter.
Investment consultant NEPC is assisting.