Big Easy Hires 14 Hedge Funds

Mar 10 2006 | 1:00am ET

The $397 million New Orleans Employees Retirement System has hired 14 hedge fund managers to handle a total of $10.75 million.

Jerry Davis, chairman, said the plan decided to directly invest with 14 managers to test various strategies and would likely invest further with managers in strategies that perform well. He declined to name the managers while he is in contract negotiations.


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