Updated with correction
Louisiana Clerks of Court Retirement and Relief Fund, Baton Rouge, hired Hood River Capital Management and WCM Investment Management to run $24 million each in active equities.
The $616 million pension fund's board approved the hirings at its Sept. 17 meeting, said Debbie Hudnall, executive director.
Hood River will run a domestic small-cap growth portfolio. Those assets had been parked in a Russell 2000 growth exchange-traded fund, following the closing of previous active domestic small-cap growth manager Elk Creek Partners.
WCM will run an active international growth portfolio. Funding comes from reducing the portfolios of active international equity managers Thompson, Siegel & Walmsley and LSV Asset Management, by $13 million and $11 million, respectively. Their portfolios had $41 million and $34 million, respectively, as of Aug. 31.
As of Aug. 31, the actual allocations to domestic equities and international equities were 38.2% and 23.3%, respectively.
Investment consultant AndCo Consulting assisted.