St. Louis Public School Retirement System’s investment committee recommended hiring Lazard Asset Management to run a $28 million active emerging markets debt portfolio, recently released investment committee minutes said.
The $911 million pension fund conducted an invitation-only search in the summer for its first emerging markets debt manager. At the time, the pension fund had yet to hire any managers after creating a 4% target allocation to the asset class in 2013.
Ashmore Investment Management and BlueBay Asset Management were the other finalists. A funding source was not provided. The board will vote on the recommendation at a future meeting, the minutes said.
Investment consultant NEPC assisted.
Andrew Clark, executive director, could not be reached by press time.
