New Orleans City Employees' Retirement System named First Eagle Investment Management, Harris Associates and Lazard Asset Management as finalists in its search for an active international value equity manager to run about $15 million, confirmed Jesse Evans Jr., director of the $344 million pension fund.
The pension fund initiated a search in March as part of a long-term asset allocation study being conducted by The Bogdahn Group, which was hired as the pension fund's investment consultant in September.
A funding source has yet to be decided. Finalist presentations will take place at the pension fund's July 17 board meeting, followed by a decision by the board.
The pension fund also plans to complete revising its investment policy statement and hear the results of the asset allocation study at that meeting, Mr. Evans said.