Oklahoma Law Enforcement Retirement System, Oklahoma City, committed $8 million to American Private Equity Partners, AMR Investments’ fund of funds, said Larry McCullock, executive director. The commitment is the $100 million system’s first in private equity. Funding will come from trimming its fixed-income portfolio, which is managed by Munder Capital and TCW. The exact amount from each manager hasn’t been determined.
The system has 10% of assets allocated to alternatives. It raised its real estate allocation to 7% of total assets from 5%, and reduced the private equity allocation to 3% of total assets from 5%, Mr. McCullock said. The move could lead to real estate searches, but no decision has been made.
