Louisiana Teachers’ Retirement System, Baton Rouge, is considering four searches in 2025 in private markets and domestic equities.
The $27.2 billion pension fund’s board will vote on solicitations for proposals at its Dec. 4-5 meeting for a private markets consultant, private markets co-investments manager, and managers in active domestic large-cap growth and midcap value equity managers, according to materials for its Nov. 7 meeting.
The searches, if approved, are all because of the upcoming expiration of the current managers' contracts. The board materials do not say whether the current managers are invited to rebid, but the pension fund has historically allowed incumbents to rebid for services.
First, private markets consultant Hamilton Lane’s contract will expire Dec. 31, 2025. If approved, the pension fund would issue the SFP on Feb. 6, with proposals due by March 10 and finalist presentations June 12, with a selection likely to be made at that meeting.
Second, if approved, the pension fund would issue an SFP for active domestic large-cap growth equity managers May 8, with proposals due by June 2 and finalist presentations and selections on Aug. 26.
The current large-cap growth managers and their contract expiration dates are Baillie Gifford (Oct. 6, 2026), Counterpoint Global (Sept. 8, 2026) and T. Rowe Price Group (Oct. 5, 2027).
As of Sept. 30, the managers’ portfolios had $221 million, $204 million and $407 million, respectively, in pension fund assets.
Third, if approved, TRSL will issue an SFP for a private markets co-investment manager, which will make commitments for various co-investment opportunities on behalf of the pension fund. Current manager HarbourVest Partners’ contract will expire Dec. 31, 2025.
The SFP would be issued June 12, with proposals due by July 8, and finalist interviews and a selection on Oct. 3.
Finally, if approved, the pension fund will issue an SFP for an active domestic midcap value equity manager. The SFP would be issued Oct. 2, with proposals due by Nov. 3 and finalist interviews and a selection in January 2026.
Current manager Boston Partners Global Investors’ contract will expire Feb. 3, 2026. As of Sept. 30, the manager’s portfolio had $454 million in pension fund assets.
As of Sept. 30, the pension fund’s actual allocations to alternative assets and real estate, and domestic equities were 47.6% and 21.9%, respectively.
Investment consultant Aon Investments USA assists with searches.