Louisiana Teachers' Retirement System, Baton Rouge, is searching for active international small-cap equity managers to run up to $650 million.
The $22.8 billion pension fund issued a solicitation of proposal following the board's approval Thursday of its final draft, said Dana T. Brown, director of public markets.
The pension fund is conducting the search due to the impending March 31 expiration of contracts for current managers Mondrian Investment Partners and Dimensional Fund Advisors, which evenly split the portfolio. Both firms are eligible to rebid.
As of Nov. 30, the actual allocation to international developed equities was 13.4%.
The SFP is available on the pension fund's website. Proposals are due at 4:30 p.m. CST on Feb. 8. A selection is expected April 9.
Investment consultant Aon Investments USA is assisting.
Separately, the board Thursday approved commitments of up to $100 million each to European middle-market buyout fund Charterhouse Capital Partners XI and Thomas H. Lee Equity Fund IX, a private equity and credit fund that focuses on business and finance, health care, and media and information services managed by Thomas H. Lee Partners, and up to $50 million to Exeter Europe Logistics Value Fund IV, a value-added real estate fund managed by Exeter Property Group.
As of Nov. 30, the actual allocation to alternative assets and real estate was 36.4%.
