Wayne County Employees' Retirement System, Detroit, hired First Eagle Investment Management to run $24 million in active international equities.
The $1 billion pension fund's board approved the hiring at its July 27 meeting, recently released meeting minutes show.
Funding comes from the retirement system's $24 million investment in an international equity index fund managed by Northern Trust Asset Management. Further information on the hiring was not available.
Investment consultant AndCo Consulting assisted.
Robert Grden, executive director, Henry Wilson, chairman of the board, and Cassandra McDonald, vice chairwoman of the board, did not respond to requests for further information.
