Louisiana School Employees' Retirement System, Baton Rouge, hired Grantham, Mayo, Van Otterloo & Co. and Wellington Management to run $50 million each in multiasset strategies.
The $1.9 billion pension fund approved the hirings at a January special meeting, confirmed Matthew Freedman, chief investment officer, in an email.
The hirings are part of the implementation of a new target allocation that was approved about a year ago, Mr. Freedman said.
The board had approved increasing the target to multiasset strategies to 5% from 3%, but these hires are the first for the asset class.
Investment consultant Segal Marco Advisors assisted.