Louisiana State Police Retirement System, Baton Rouge, hired GQG Partners to manage about $37 million in active emerging markets equities, according to recently released Oct. 25 board meeting minutes.
The $1.1 billion pension fund's investment committee recommended the hiring at its Aug. 23 meeting, to be funded by the termination of existing emerging markets equity manager Vontobel Asset Management due to performance concerns, according to minutes of that meeting.
Matthew McMenamy, head of the North America institutional client group at Vontobel, could not be immediately reached for comment.
Investment consultant UBS Institutional Consulting assisted.
