Louisiana Teachers’ Retirement System, Baton Rouge, will search in 2015 for money managers to run a total of about $1.38 billion, as well as an investment consultant, said Dana Brown, director of public markets.
The $16.7 billion pension fund is conducting the searches due to contract expirations and will issue solicitations for proposals; all incumbent firms will be invited to rebid, Mr. Brown said.
The pension fund’s first search will take place sometime in the first quarter, for an active domestic midcap value manager to run $325 million. Systematic Financial Management is the current manager.
Later in the year, the pension fund will search for active international small-cap equity managers to run a total of $535 million. Current managers are Dimensional Fund Advisors, which manages $285 million, and Mondrian Investment Partners, $250 million.
Then, the pension fund will search for an active domestic smidcap core equity manager to run $515 million. Westwood Management is the current manager.
The final search of 2015 will be a search for an investment consultant. Hewitt EnnisKnupp is the current consultant, which will be assisting in the manager searches conducted earlier in the year.
Separately, the pension fund hired The Abraaj Group to manage a $100 million customized separate account that will invest in Abraaj’s various buyout funds. It is the first time the pension fund has hired The Abraaj Group.
Also, Maurice Coleman, director of private markets, was named deputy chief investment officer, effective Dec. 1, said Lisa Honore, pension fund spokeswoman. The position has been open since previous deputy CIO Philip Griffith was promoted to CIO in October 2009. Mr. Coleman will continue to handle the duties of director of private markets.