Louisiana Teachers' Retirement System, Baton Rouge, is searching for an active domestic smidcap core equity manager to run about $515 million, said Dana Brown, director of public markets.
The $16.7 billion pension fund's move follows approval of the solicitation for proposals by the pension fund's board June 5. The contract of current manager Westwood Management is expiring; Westwood is invited to rebid.
Proposals are due at 4:30 p.m. CDT on July 8. A decision is expected by the end of the summer.
The SFP is available on the fund's website.
Separately, the pension fund likely will issue an SFP for an investment consultant in July, the fourth and final search scheduled for the pension fund in 2015. The contract of incumbent Aon Hewitt Investment Consulting is expiring; the firm will be invited to rebid.
Also, the pension fund rehired Dimensional Fund Advisors to run $285 million and Mondrian Investment Partners to run $250 million in active international small-cap equities. The pension fund issued an SFP in April because the money managers' contracts were expiring. The board voted June 5 to forgo finalist presentations and rehire the incumbents.
Separately, the pension fund committed up to $75 million to distressed debt fund Castlelake IV.