New Orleans City Employees Retirement System will interview TCW, Brandes Investment, Julius Baer, Axiom Investment, Longleaf Partners and NWQ Investment in the $365 million plan's search for an international equity manager to run at least $10 million, said Jerry Davis, board chairman. Fund officials will also interview ING Ghent, Golden Tree Asset, MacKay Shields, Pioneer Investment, Prudential, Seneca Capital and Seix Investment in a search for an active high-yield bond portfolio of at least $10 million, said Mr. Davis. He said there might be other firms interviewed as well in both searches.
The interviews are planned for mid-October, he said. The funding sources have not been determined. Morgan Stanley is assisting.
Separately, on Wednesday the board added $4 million to its commitment to Clinton Group's Multi-Strategy fund, raising it to $6 million. The board terminated one of the plan's lowest-performing hedge funds, Mr. Davis said. He declined to say which fund was terminated because the fund is in the process of being notified.