Louisiana Teachers’ Retirement System, Baton Rouge, hired SageView Advisory Group as investment consultant for its $3 billion 401(a) plan and approved three new real estate commitments totaling up to $650 million for its $27.2 billion pension fund.
The retirement system’s board approved the actions at its Nov. 7 meeting, a spokesperson said.
The system had issued a solicitation for proposals for the 401(a) plan consultant in July. Incumbent consultant Mercer was the other finalist.
The plan’s record keepers are Corebridge Financial, TIAA-CREF and Voya Financial.
Separately, the board approved commitments of up to $400 million to Stockbridge Smart Markets Fund, an open-end core real estate fund managed by Stockbridge Capital Group, and up to $125 million each to value-added real estate fund Mesirow Financial Real Estate Value Fund V and Sculptor Real Estate Fund V, an opportunistic real estate fund managed by Sculptor Capital Management.
As of Sept. 30, the pension fund’s actual allocation to real estate was 11.9%.