Searches and Hires

Louisiana Firefighters hires SSGA for passive global equities

Louisiana Firefighters' Retirement System, Baton Rouge, hired State Street Global Advisors to run a $35 million passive global equity portfolio, recently released board meeting minutes show.

The $1.7 billion pension fund's board approved the investment in SSGA's MSCI ACWI index fund at its March 14 meeting. A funding source was not provided.

As of March 31, the actual allocation to global equities was 9.4%; the target is 10%. As of that date, the fund had two active global equity managers: Boston Partners and Thornburg Investment Management, with respective portfolios of $97 million and $60 million.

CIO Michael Becker could not be immediately reached to provide further information.