Oklahoma Firefighters' Pension & Retirement System, Oklahoma City, will select finalists on March 19 in its shortlist search for the $1.3 billion system's first real estate manager, said Herb Bradshaw, assistant director. Trustees had expected to hire a manager at the meeting, but consultant Asset Consulting Group wanted an additional month to review responses, he said. Plan officials now expect to hire a manager in April.
The portfolio size has not been set but likely won't be more than 5% of plan assets, Mr. Bradshaw said. The funding source has also not been determined. The fund's current asset allocation is 54% domestic equity, 37% fixed income and 9% international equity.