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.
Investment consultant Summit Strategies Group assisted.