Louisiana Firefighters’ Retirement System, Baton Rouge, hired BNY Mellon Investment Management to run a $50 million unconstrained fixed-income portfolio, recently released board meeting minutes said.
The $1.3 billion pension fund issued an RFP in April. BlackRock and GAM were the other finalists.
Funding comes from a passive domestic equity portfolio managed by BlackRock. Further information on how much remains in the portfolio could not be learned by press time.
Investment consultant NEPC assisted,
Steven Stockstill, executive director, did not respond to requests for further information by press time.