Louisiana State Police Retirement System, Baton Rouge, is narrowing an invitation-only search for an active domestic midcap equity manager to run about $20 million, said Irwin L. Felps, executive director.
The $644 million pension fund initiated the search earlier this year to diversify the domestic equity portfolio to include an active midcap manager. State Street Global Advisors is the pension fund’s only current midcap equity manager, running a $35 million passive portfolio.
Mr. Felps said the original list of 40 to 50 names has been narrowed to 10 to 12 managers, and officials hope to have three finalists present at the May 20 investment committee meeting with a decision shortly thereafter.
Funding will likely come from cash and some rebalancing; no managers would be terminated. Investment consultant UBS is assisting.
