Oklahoma Police Pension & Retirement System, Oklahoma City, will issue an RFP in March for a commodities manager to run $60 million to $75 million, said Steven Snyder, executive director and chief investment officer.
The RFP will be for a “long-only, non-hedged pure commodities manager,” Mr. Snyder said in a telephone interview. Funding will come from assets parked in a Mellon Capital Management small-cap growth equity index fund. The pension fund is working toward reaching its 15% allocation to real assets, including 5% to commodities. The current allocation is 5.3% real assets and 1.2% commodities.
The RFP will be posted on the $2.1 billion pension fund's website. A hiring decision could be made in July.
Investment consultant Asset Consulting Group will assist.
Separately, the pension fund committed $7.5 million to Hall Capital III, an opportunistic real estate fund managed by Hall Capital Partners. It is the pension fund's first commitment with Hall Capital.