Louisiana Teachers sticks with Western Asset Management for emerging markets debt

Louisiana Teachers’ Retirement System, Baton Rouge, rehired Western Asset Management Co. to run about $265 million in active emerging markets debt, said Dana Brown, director of public markets.

The $16.9 billion pension fund issued a solicitation for proposals in January due to the pending expiration of Western Asset Management’s contract. The board on Thursday voted to rehire the manager, eschewing finalist presentations.

Investment consultant Aon Hewitt Investment Consulting assisted.