Louisiana Parochial Retirement System, Baton Rouge, hired Franklin Templeton Investments to manage $125 million in global fixed income and DoubleLine Capital to run $70 million in a structured credit strategy, said Troy Searles, chief investment officer.
The $3.3 billion pension fund conducted invitation-only searches earlier this year as a result of a new target allocation approved by the board in March, increasing fixed income to 34% from 28% and alternatives to 15% from 11%. Funding comes from public equities, whose target dropped to 51% from 61%. No managers will be terminated.
Western Asset Management Co. was the other global fixed-income finalist and Libremax Capital was the other structured credit finalist.
Investment consultant Segal Rogerscasey assisted.
