Institutional Investors

LASERS creates a $900m customised and concentrated portfolio


The Louisiana pension fund aims for optimal diversification via three FoHFs and Bridgewater

By Susan Barreto

Bobby Beale
Staffers at the second-largest pension plan in the Louisiana have spent the last 18 months conducting a thorough review of their hedge fund programme – a move that has coincided with a prolonged period of hedge fund underperformance compared to traditional benchmarks. Unlike many of its US public pension peers, however, the Louisiana State Employees’ Retirement System (LASERS) has kept funds of hedge funds as the cornerstone of a successful absolute return allocation.

The $9.2 billion retirement system recently hired Prisma Capital Partners and Entrust Capital,