Louisiana Teachers' Retirement System, Baton Rouge, rehired Artisan Partners and Baillie Gifford & Co. to manage about $450 million each in active international growth equities.
The $24.1 billion pension fund's board approved the rehirings at its Feb. 2 meeting, said Dana T. Brown, director of public markets, in an email.
The pension fund issued a solicitation for proposals in December due to the pending expirations of the contracts of both managers. At its Feb. 2 meeting, the board elected to eschew finalist presentations and retain both incumbent managers, Mr. Brown said.
As of Dec. 31, the actual allocation of international developed markets equities was 9.9%; the target is 8%.
Investment consultant Aon Investments USA assisted.