Louisiana Assessors' Retirement Fund, Baton Rouge, hired Boston Partners to run an active domestic all-cap value equity portfolio.
The $491 million pension fund's board approved the hiring at its April 25 meeting, recently released meeting minutes show.
The pension fund conducted a search beginning in January following a review of incumbent all-cap value equity manager GAMCO Investors, according to Jan. 24 board meeting minutes. Funding for the new hiring will come from GAMCO's termination, the reason for which was not provided in the most recent or prior minutes. The size of the portfolio was also not provided.
The other finalist was Clifford Capital Partners.
The pension fund's target allocation to total equities is 55%.
Investment consultant AndCo Consulting assisted.
Jeffrey D. Gardner, president of the pension fund's board of trustees, could not be immediately reached for further information.