New Orleans City Employees' Retirement System is searching for an active international value equity manager to run at least $15 million, confirmed Jesse Evans Jr., director of the $344 million pension fund.
Interested managers should have their updated data available in the PSN investment manager database of Informa Investment Solutions Inc., White Plains, N.Y. Investment consultant Bogdahn Group will select a list from that database to present to the pension fund's board of trustees within the next couple of months, said Mr. Evans in a telephone interview.
The search is part of a long-term asset allocation study being conducted by Bogdahn Group, which was hired as the fund's investment consultant last September. Funding will come from a reduction in the pension fund's manager lineup; details have yet to be decided.
Separately, as part of the overall consolidation of managers, the board agreed at its meeting on Wednesday to allocate $5 million more to existing manager Delaware Investments, giving its opportunistic fixed-income portfolio a total of $38 million. Funding comes from the termination of the pension fund's lone high-yield manager, Rogge Global Partners.
