Louisiana School Employees' Retirement System, Baton Rouge, hired LSV Asset Management to manage between $50 million and $55 million in active international small-cap equity, said Christopher Saik, interim chief investment officer.
The $1.8 billion pension fund added a 3% target to international small-cap equity earlier this year.
Funding will come from the pension fund's domestic large-cap equity portfolio; no managers will be terminated. The size of the large-cap portfolio could not be learned by press time.
