Louisiana Teachers' Retirement System, Baton Rouge, rehired two incumbent smidcap core equity managers to run up to a combined $500 million to $550 million and made four new alternative fund commitments totaling up to $300 million.
The $24.6 billion pension fund's board at its Jan. 6 meeting approved rehiring PGIM Quantitative Solutions and William Blair Investment Management to split between $500 million and $550 million in active domestic smidcap core equities said Dana T. Brown, director of public markets, in an email.
The pension fund had issued a solicitation for proposals in November due to the upcoming expirations of the two managers' contracts. There were no other finalists.
As of Nov. 30, the pension fund's actual allocation to domestic equities was 23.6%.
Separately, the board at its Dec. 6 meeting approved commitments of up to $125 million to BCP Special Opportunities Fund III, a distressed debt fund managed by Bernhard Capital Partners Management; up to $75 million to middle-market buyout fund Genstar Capital Partners XI; and up to $50 million each to infrastructure fund Global Infrastructure Partners V and closed-end North American middle-market infrastructure fund Stonepeak Opportunities Fund.
TRSL previously committed up to $50 million to BCP Fund III in 2022, up to $50 million to Genstar Capital Partners X in 2021, up to $50 million to Global Infrastructure Partners IV in 2019 and up to $50 million to Stonepeak Infrastructure Partners III in 2017.
As of Nov. 30, the pension fund's actual allocation to alternative assets was 36.5%.