Louisiana Teachers’ Retirement System, Baton Rouge, will conduct three searches in 2016 for managers to run a total of about $3 billion, said Dana Brown, director of public markets, in an e-mail.
The $16.6 billion pension fund’s board approved the searches at its meeting Dec. 4; all of the searches are taking place due to the expirations of the contracts of the current managers. All managers will be invited to rebid.
The pension fund’s first search will take place in February when it issues a solicitation for proposals for active domestic large-cap equity managers to run a total of $1.1 billion. The current managers are Brown Advisory and Boston Co. Asset Management. The SFP will be up for approval at the board’s Feb. 4 meeting, to be issued shortly thereafter, with a deadline of March 7 and a decision expected May 6.
The next search will be for active global fixed-income managers to run a total of $1.2 billion. The current managers are Brandywine Global Investment Management and Pacific Investment Management Co. The board will review the SFP for approval at its April 7 meeting, with a proposal due date of May 5 and a decision expected at its July 8 meeting.
Lastly, the pension fund will search for active emerging markets equity managers to run a total of $691 million. The current managers are Dimensional Fund Advisors and Vontobel Asset Management. The board will review the SFP for approval at its July 7 meeting, with a proposal due date of Aug. 3 and a decision expected Oct. 7.
The SFPs will be posted on the pension fund’s website.
Investment consultant Aon Hewitt Investment Consulting is assisting.