Oklahoma Firefighters' Pension and Retirement System, Oklahoma City, hired Aronson + Partners and Brandywine Asset to manage $50 million each in active domestic large-cap value equities for the $1.25 billion pension plan, said Robert E. Jones, executive director. Partial funding came from terminating a $72 million portfolio managed by Oppenheimer Capital in the same style; the termination was due to performance, but Oppenheimer was asked to rebid, Mr. Jones said. The source of funding for the remaining $28 million has not been determined, he said. The system's asset allocation is 65% equity and 35% fixed income.
Jeff Sheran, managing director of marketing for Oppenheimer Capital, declined comment.