Searches and Hires

New Orleans City Employees preps search for GTAA manager

New Orleans City Employees' Retirement System will soon begin a search for its first global tactical asset allocation manager, said Jesse Evans Jr., director, in an email.

The $378 million pension fund plans to issue an RFP sometime within the next one or two weeks, Mr. Evans said. The specific size of the portfolio has yet to be determined, but the pension fund's board has had "some very preliminary discussions about potentially funding at a ($20 million) level," he said.

The pension fund's target allocation is 44% domestic equities; 20% core-plus fixed income; 14% international equities; 5% each hedge funds, international fixed income, private equity and real estate; and 2% cash reserves.

The RFP will be posted on the pension fund's website. A timeline for the search has yet to be determined.

Investment consultant AndCo Consulting is assisting.