Pension fund also names finalists in small-cap value search, commits to 2 alts funds
Louisiana Teachers' Retirement System, Baton Rouge, is searching for an active domestic midcap growth equity manager to run about $325 million, said Dana Brown, director of public markets.
The $20 billion pension fund issued a solicitation for proposals due to the pending contract expiration of current manager Voya Investment Management; the firm is invited to rebid.
The SFP is available on the pension fund's website. Proposals are due at 4:30 p.m. CDT on June 11. Finalist interviews are scheduled for Aug. 2, with a decision expected shortly thereafter.
Separately, the pension fund named Barrow, Hanley, Mewhinney & Strauss; DePrince, Race & Zollo; and incumbent manager Mesirow Financial as finalists in its search for an active domestic small-cap value equity manager to run about $400 million. The pension fund issued an SFP in March due to the pending expiration of Mesirow's contract. Finalist interviews will take place June 7, with a decision expected shortly thereafter.
Investment consultant Aon Hewitt Investment Consulting assists with all SFPs.
Also, the pension fund committed up to $75 million each to Oaktree Special Situations Fund II, a distressed debt fund managed by Oaktree Capital Management (OAK), and TPG Real Estate Fund III, a value-added real estate fund.
The pension fund previously committed up to $50 million to Oaktree Real Estate Opportunities Fund VII in August 2016 and up to $75 million to TPG Growth IV in September 2017.
As of March 31, the pension fund's actual allocations to real estate and private market debt were 8% and 6%, respectively.