Baton Rouge (La.) & Parish of East Baton Rouge Employees’ Retirement System plans to hire AJO to run $45 million in active emerging markets equities, pending contract negotiations, said Jeffrey Yates, retirement administrator.
The $1.1 billion pension fund conducted an invitation-only search earlier this year due to the underperformance of current manager Dimensional Fund Advisors; Mr. Yates said the termination is pending the completion of negotiations with AJO.
Adam Martin, Dimensional spokesman, declined to comment.
Other finalists were Lee Munder Capital Group and Oaktree Capital Management.
Investment consultant Summit Strategies Group assisted.
