Louisiana State Police Retirement System, Baton Rouge, hired Iridian Asset Management to run $20 million in active domestic midcap value equities, said Irwin L. Felps Jr., executive director.
The $660 million pension fund conducted an invitation-only search after deciding to add active management in the midcap space. Funding comes from reducing the portfolio of passive domestic midcap equity manager State Street Global Advisors, leaving it with $20 million.
Other finalists were Thompson, Siegel & Walmsley and WEDGE Capital Management.
Investment consultant UBS assisted.
