Louisiana School Employees' Retirement System, Baton Rouge, hired Conestoga Capital Advisors to manage $45 million in active domestic small-cap growth equities, said Matthew Freedman, chief investment officer, in an email.
The $1.8 billion pension fund conducted a shortlist search and funded the hiring from an index fund in the same asset class, Mr. Freedman said.
As of Dec. 31, a small-cap growth index fund managed by Mellon Capital Management had $116 million in assets.
Other finalists were Ranger Investment Management and Westfield Capital Management.
Investment consultant Segal Marco Advisors assisted.