Louisiana Sheriffs’ Pension & Relief Fund, Baton Rouge, hired AQR Capital Management and Wellington Management to run $95 million each in active global equities, said Osey “Skip” McGee, executive director.
The $2.8 billion pension fund conducted a shortlist search earlier this year to create further diversification in equities. The two managers are the pension fund’s first global equity managers. Funding comes from reducing its overweight domestic equities portfolio, Mr. McGee said. No managers were terminated.
He added AQR’s portfolio is a quantitative strategy, while Wellington’s is a fundamental strategy.
Investment consultant Russell Investments assisted.
