Searches and Hires

Louisiana Teachers assigns $200 million

Louisiana Teachers' Retirement System, Baton Rouge, made manager hires and commitments totaling up to $200 million, said Dana Brown, director of public markets.

The $20.1 billion pension fund hired AgIS Capital to manage up to $100 million in a farmland separate account and also added $25 million to an existing farmland separate account managed by Hancock Agricultural Investment Group, giving its portfolio a total of $100 million.

As of Nov. 30, the pension fund's infrastructure/commodity/farmland allocation was 4%.

The pension fund also committed up to $75 million to private equity fund Castlelake Income Opportunities. The pension fund previously committed up to $75 million to distressed debt fund Castlelake V in 2017.

As of Nov. 30, the pension fund's private equity/venture capital allocation was 14%.

Separately, the pension fund issued a solicitation for proposals for an active domestic core-plus fixed-income manager to run $350 million. The pension fund issued the SFP due to the pending expiration of current manager Loomis Sayles & Co.'s contract. The firm is invited to rebid.

As of Nov. 30, the pension fund's domestic fixed-income allocation was 7%.

The SFP is available on the pension fund's website. Proposals are due at 4:30 p.m. CST on Feb. 11. A decision is expected April 5.

Investment consultant Aon Hewitt Investment Consulting is assisting with the search.