Louisiana Municipal Employees’ Retirement System, Baton Rouge, hired LSV Asset Management to run about $60 million in active international equities.
The $1.2 billion pension fund’s board approved the hiring at its Feb. 6 meeting, recently released meeting minutes showed.
The pension fund conducted a search. Incumbent international equity manager First Eagle Investment Management was a finalist along with Causeway Capital Management.
The minutes did not provide a reason for the search. CIO Christopher Saik could not be immediately reached for further information.
As of Dec. 31, the actual allocation to international developed markets equities was 12.4%; the target is 13%.
Investment consultant Meketa Investment Group assisted.
