Louisiana Firefighters’ Retirement System, Baton Rouge, hired Rothschild Asset Management to run $54 million in active domestic smidcap growth equities, said recently released board meeting minutes.
The $1.4 billion pension fund issued an RFP in January. Investment consultant NEPC had recommended the pension fund allocate more of its overall smidcap portfolio to active management.
Funding comes from the termination of a passive domestic small-cap equity portfolio and passive domestic midcap portfolio managed by Mellon Capital Management. The minutes didn’t specify whether these were growth or value portfolios.
Each portfolio was about $22 million. Additional funding came from reducing the portfolio of active domestic smidcap value equity manager Advisory Research to $36 million from $46 million.
Steven Stockstill, executive director, did not reply to requests for further information by press time.