The $1.385 billion Louisiana Sheriffs Pension & Relief Fund intends to select real estate managers during the next six months. The fund wants to double its 5% real estate allocation, said Skip McGee, executive director. The increase follows strong performance from its current allocation, which is handled by Russell Investment Group.

The Sheriffs will consider global real estate managers in addition to core domestic strategies. "We're heading more towards a global economy," McGee noted. "We're not looking to take on a substantial amount of risk," he continued, so the plan will restrict its investments to developed countries.

Russell, which is also the plan's consultant, will select a group of managers for the fund's investment committee to consider, and then the committee will draw up a short list and interview two finalists. The moves will be funded out of equity and cash.