Louisiana Teachers' Retirement System, Baton Rouge, will launch a search within the next week for an active domestic midcap growth equity manager to run about $350 million, said Dana T. Brown, director of public markets, in an email.
The $23.8 billion pension fund will issue a solicitation for proposals on Friday or Jan. 9 due to the upcoming expiration of the contract of current manager Voya Investment Management. The firm will be invited to rebid, he said.
As of Oct. 31, the pension fund's actual allocation to domestic equities was 23.3%; the target is 22%.
The pension fund posts SFPs on its website. Proposals will be due in early February, with a selection expected at the pension fund's March 30-31 board meeting.
Investment consultant Aon Investments USA will be assisting.