Louisiana Firefighters' Retirement System, Baton Rouge, hired Wellington Management to run an $85 million active emerging markets debt blended currency portfolio, recently released board meeting minutes show.
The $1.8 billion pension fund issued an RFP following the termination in July of Stone Harbor Investment Partners from its $79 million portfolio because of personnel changes, performance concerns and asset outflows.
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.
Ashmore Group and MetLife Investment management were the other finalists.
Investment consultant NEPC assisted.
Michael Becker, chief investment officer, could not be immediately reached for further information.