Louisiana Assessors' Retirement Fund, Baton Rouge, hired BlackRock (BLK) and Westwood Capital Management to run about $10 million each in global tactical asset allocation strategies, said Jon Breth, senior consultant at AndCo Consulting, investment consultant for the $350 million pension fund.
Funding comes from the reduction of the portfolio of D.E. Shaw Group, which runs a domestic large-cap equity enhanced index portfolio, leaving it with about $65 million. Mr. Breth said the hires took place following the creation of a 5% target to GTAA. He did not have further information.
Bobby W. Edmiston, president of the Louisiana Assessors' Association and chairman of the retirement board, referred questions to Mr. Breth.