Baton Rouge (La.) & Parish of East Baton Rouge Employees’ Retirement System hired Harvest Fund Advisors to run about $50 million in a master limited partnership portfolio, said Jeffrey Yates, retirement administrator.
The $1.1 billion pension fund conducted an invitation-only search last year. Other finalists were Fiduciary Asset Management and Tortoise Capital Advisors.
Funding will come from both domestic and international equities; no managers will be terminated.
Separately, the pension fund committed $15 million to AIP Private Markets Fund VI, a private equity fund of funds managed by Morgan Stanley Alternative Investment Partners.
Investment consultant Summit Strategies Group assisted.
