Louisiana Teachers' Retirement System, Baton Rouge, hired Franklin Templeton and William Blair & Co. to manage about $700 million each in active emerging markets equities, said Dana T. Brown, director of public markets.
The $24.5 billion pension fund issued a solicitation for proposals in February due to the pending expiration of the contracts of value equity manager Dimensional Fund Advisors and growth manager Harding Loevner.
Both managers rebid for the services. Franklin Templeton will manage a value portfolio, and William Blair will run a growth portfolio.
Growth manager Columbia Threadneedle Investments and value manager Wells Fargo Asset Management were the other finalists.
As of March 31, the actual allocation to emerging markets equities was 5.4%.
Investment consultant Aon Investments USA assisted.
Separately, TRSL rehired Aon as investment consultant for the pension fund. The pension fund issued an SFP in March due to the pending expiration of Aon's contract on June 30. There were no other finalists.
Also, the pension fund committed up to $75 million each to ICG Europe Fund VIII, a middle-market debt fund managed by Intermediate Capital Group, and private credit fund Summit Partners Credit Fund IV; and up to $25 million to Asterion Industrial Infra Fund II, an infrastructure fund managed by Asterion Industrial Partners.
As of March 31, the actual allocation to alternative assets and real estate was 37.3%.
