New Orleans City Employees' Retirement System hired First Eagle Investment Management to run at least $15 million in active international value equities, confirmed Jesse Evans Jr., director of the $348 million pension fund.
The hire is the result of a search launched in March as part of a long-term change in asset allocation. The funding source has yet to be determined.
Other finalists were Harris Associates and Lazard Asset Management.
Investment consultant The Bogdahn Group assisted.
