Institutional Investors

LASERS begins mortgage-backed securities manager search


The Louisiana State Employees' Retirement System issued a request for proposal for core mortgage-backed securities managers for a $250 million mandate.

The $7 billion state retirement system will have gathered responses by 3 May and the mandate is benchmarked to the Barclays Capital Mortgage Backed Securities Index. Firms considered for the new allocation will need to have $500 million of invested capital in a mortgage-backed securities strategy. Finalists will be selected by late June, while interviews and on-site visits will be conducted over the summer.

The search is being handled by