Louisiana Teachers searches for REIT managers
The $17.1 billion Teachers’ Retirement System of Louisiana is searching for investment managers to invest in REITs, according to a board meeting document. Last year, the pension fund created a 2 percent allocation to REITs. The pension fund should have approximately $360 million to invest in the asset class, according to news sources. Prospective managers must respond to the search by July and a final decision on the successful manager, or managers, is likely to be made at the pension fund’s board meeting in early October. Consulting firm Aon Hewitt will conduct the REIT manager search.