Charles de Vaulx, whose sudden departure from First Eagle Funds last year created a stir (and even landed a spot on Morningstar's list of the biggest surprises in the fund industry in 2007), has popped up once again in the asset management world. De Vaulx signed on as partner and portfolio manager at International Value Advisers, Pensions & Investments reports.

De Vaulx told the pub he is returning to the industry, having honored a one-year non-compete agreement.

IVA was founded last year by Chuck de Lardemelle and three other alums of Arnhold & S. Bleichroeder Advisers, the investment adviser to the First Eagle Funds.

De Vaulx left First Eagle -- where he was the lead manager for four funds -- in March last year. His departure prompted his predecessor, Jean-Marie Eveillard, to come out of retirement and take charge of the funds.  

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