Oklahoma Teachers Retirement System, Oklahoma City, hired Frontier Capital to manage $120 million in active domestic midcap growth equities for the $5.6 billion pension plan, said William Puckett, chief investment officer. Funding came from terminating a $120 million portfolio managed by Morgan Stanley in the same style, due to personnel changes.
Separately, the plan terminated a $160 million active domestic midcap value equity portfolio run by Morgan Stanley, due to performance, said Mr. Puckett. Plan officials will decide at the systems July 31 board meeting whether to use existing managers to run the money in a similar style or to issue an RFP, he said.
Megan Ochampaugh, spokeswoman for Morgan Stanley, did not return calls seeking comment by press time.
The systems asset allocation is 64% equity and 36% fixed income, he said. Marquette Associates is advising.