Louisiana Firefighters' Retirement System, Baton Rouge, named three finalists in its search for an active emerging markets debt blended currency manager.
The $1.8 billion pension fund's board named Ashmore Group, MetLife Investment Management and Wellington Management as finalists at its Dec. 11 meeting, recently released minutes show.
The pension fund issued an RFP following the termination in July of Stone Harbor Investment Partners from its $79 million portfolio due to personnel changes, performance concerns and asset outflows. How much the new manager will run could not be immediately learned. Stone Harbor officials could not be immediately reached for comment.
Stone Harbor's assets are currently parked in a passive domestic equity portfolio managed by BlackRock, which had $385 million in assets under management as of Dec. 31.
Finalist interviews will take place at the pension fund's February board meeting.
Investment consultant NEPC is assisting.
Michael Becker, the pension fund's chief investment officer, could not be immediately reached to provide further information.
