Louisiana Teachers’ Retirement System, Baton Rouge, rehired Boston Co. Asset Management to run about $550 million in active domestic large-cap growth equities, said Dana Brown, director of public markets.
The $16.3 billion pension fund also announced finalists for the other half of the $1.1 billion in active domestic large-cap growth equities for which the pension fund issued a solicitation for proposals in February.
Current manager Brown Advisory, along with Loomis Sayles & Co. and Morgan Stanley Investment Management, will make presentations to the board at its May 5-6 meeting, with a decision expected shortly thereafter.
The pension fund issued the SFP due to the pending expirations of Boston Co. Asset Management and Brown Advisory’s contracts. Both managers each run about $550 million.
Investment consultant Aon Hewitt Investment Consulting is assisting.
Separately, the pension fund committed up to $100 million to Charterhouse Capital Partners X, a European buyout fund, and up to $75 million to OHA Strategic Credit Fund II, managed by Oak Hill Advisors.
The Charterhouse commitment is a new manager relationship, Mr. Brown said. The pension fund has previously made commitments to OHA funds, most recently in August 2013 when it committed up to $75 million to OHA Newbury Partners.