Santa Barbara County (Calif.) Employees' Retirement System hired First Eagle Investment Management and Artisan Partners to run $50 million each in active international equity, confirmed Eli Martinez, investment officer.
First Eagle will manage a value strategy and Artisan, growth. Funding comes from terminating a Lord Abbett international core equity strategy earlier this year. The assets were parked in a State Street Global Advisors MSCI ACWI ex-U.S. index fund. SSgA still manages about $55 million in the strategy for the $2.3 billion pension fund.
An RFP was issued in July. Investment consultant Meketa Investment Group assisted.