Louisiana Teachers' Retirement System, Baton Rouge, is searching for an active emerging markets debt (local currency) manager to run up to $300 million.
The $24 billion pension fund issued a solicitation for proposals due to the upcoming expiration of Western Asset Management's contract on March 1, 2022. The firm is invited to rebid, said Dana T. Brown, director of public markets.
As of Feb. 28, the actual allocation to emerging markets debt was 1.2%.
The SFP is available on the pension fund's website. Proposals are due at 4:30 p.m. CDT on May 10. A selection is expected on July 9.
Investment consultant Aon Investments USA is assisting.
Separately, the pension fund committed up to $50 million each to commercial property and multifamily real estate fund FCP Realty Fund V and Roark Capital Partners VI, a buyout fund managed by Roark Capital Group.
As of Feb. 28, the actual allocation to alternative assets and real estate was 35.9%.
Finally, the pension fund named four finalists in its search for two active emerging markets equity managers to split a portfolio of up to $1.4 billion. Columbia Threadneedle Investments, Franklin Templeton, Wells Fargo Asset Management and William Blair & Co. will make presentations to the pension fund's board of trustees at its May 6 meeting, with a decision expected May 7.
The pension fund issued an SFP in February due to the pending expiration of the contracts of value manager Dimensional Fund Advisors and growth manager Harding Loevner. Mr. Brown said both managers rebid for the services.
As of Feb. 28, the actual allocation to emerging markets equities was 5.4%.
Aon Investments USA is also assisting with this search.