Louisiana Teachers' Retirement System, Baton Rouge, rehired Mondrian Investment Partners to run up to $325 million in active international small-cap equities, said Dana T. Brown, director of public markets.
The $23.5 billion pension fund issued a solicitation of proposals in January for two managers to split a $650 million portfolio of the asset class due to the impending March 31 expiration of contracts for Mondrian and Dimensional Fund Advisors, which evenly split the portfolio.
The pension fund's investment committee will conduct interviews with finalists American Century Investments, Driehaus Capital Management and Oberweis Asset Management for the other half of the portfolio at its April 8 meeting. Dimensional did rebid for the services, Mr. Brown said.
As of Jan. 31, the actual allocation to international developed markets equities was 13.7%.
Investment consultant Aon Investments USA is assisting.
Separately, the pension fund committed up to $75 million to distressed debt fund Castlelake Income Opportunities II; up to $50 million each to private equity fund Hellman & Friedman Capital Partners X and middle-market buyout fund Genstar Capital Partners X; and up to $20 million to growth equity fund Insight Venture Partners Fund X Follow-on Fund.
As of Jan. 31, the actual allocation to alternative assets and real estate was 35.6%.