Louisiana Firefighters' Retirement System, Baton Rouge, is searching for an unconstrained fixed-income manager to run about $60 million, according to an RFP posted on the website of NEPC, the $1.6 billion pension fund's investment consultant.
The pension fund is seeking a manager to complement current core fixed-income managers, the RFP said. The current core fixed-income managers are BlackRock and Orleans Capital Management, which run portfolios of $150 million and $68 million, respectively, according to a flash report on the pension fund's website.
The pension fund's overall target to fixed income is 19%; as of Sept. 30, the actual allocation was 13.6%.
The RFP is available on NEPC's website. Proposals are due Nov. 24. Finalist interviews are scheduled for Feb. 5, 2018, with a decision "as soon as practical" afterward, according to the RFP.
Michael Becker, chief investment officer, could not be immediately reached to provide further information.