The New Orleans Employees' Retirement System may double its investment to an alternative investment fund run by International Investment Group, which runs $2.5 million for the fund, said Chairman Jerry Davis. The fund has had good exemplary performance, he said. The board of the $400 million fund will make a decision at its Aug. 23 meeting.
At the same meeting, the board will discuss whether to terminate active domestic large-cap growth equity managers Davis Hamilton Jackson, which runs $24 million for the fund, and Holland Capital, which manages $5.2 million, Mr. Davis said. Both firms were put on watch since the second quarter. Consultant Morgan Stanley is creating a shortlist of firms it will invite to bid if either of the firms is terminated.