Louisiana School Employees’ Retirement System, Baton Rouge, hired Loomis Sayles & Co. to manage a $90 million domestic high-yield portfolio, said Christopher Saik, chief investment officer, in an e-mail.
The $1.7 billion pension fund conducted an invitation-only search earlier this year to further diversify its fixed-income portfolio, which consisted primarily of core and core-plus strategies.
No managers will be terminated; funding will come from rebalancing.
Other finalists were Hotchkis & Wiley Capital Management and Oaktree Capital Management.
Investment consultant Segal Rogerscasey assisted.
