Louisiana Teachers' Retirement System, Baton Rouge, is searching for active international small-cap equity managers to run $650 million.
The $21.1 billion pension fund issued a solicitation for proposals due to the impending expiration of the contracts of current managers Dimensional Fund Advisors and Mondrian Investment Partners, said Dana Brown, director of public markets.
Both firms, which evenly split the portfolio, are invited to rebid.
The SFP is available on the pension fund's website. Proposals are due at 4:30 p.m. CDT on March 9. A selection is expected on May 8.
Investment consultant Aon Hewitt Investment Consulting is assisting.
Separately, the pension fund committed up to £50 million ($65 million) to Bridgepoint Development Capital IV, a European middle-market buyout fund managed by Bridgepoint Capital.
As of Dec. 31, the actual allocations to private equity/venture capital and international developed equities were 15% and 12%, respectively. Their respective targets are 14% and 11%.
