New Orleans City Employees' Retirement System invested $20 million in Corbin Opportunity Fund, a hedge fund of funds managed by Corbin Capital Partners, said Jesse L. Evans Jr., director, in an e-mail.
The $364 million pension fund originally issued an RFP in May 2015 for opportunistic credit and/or hedge fund managers and then suspended it last August due to some board members' concern about making such an investment following the redemption in June from seven hedge funds in which it had invested a total of $8.2 million.
The pension fund resumed the search in November. EnTrust Capital, The Riverview Group and Siguler Guff & Co. were the other finalists.
Investment consultant The Bogdahn Group assisted.
