Oklahoma City Employee Retirement System hired AIG Global Investment Group to manage up to $20 million in a low-volatility fund of funds for the $399 million system, said Rena Hutton, retirement system manager. Funding will come from reducing a $78.7 million State Street Global Advisors Lehman Brothers Aggregate Bond index fund. Pacific Alternative Asset Management was the other finalist.
Separately, system officials will interview K2 Advisors and Meridian Capital Partners on Oct. 11 in its search for a private equity fund-of-funds manager to run up to $15 million, Ms. Hutton said. Funding will come from reducing a $163 million SSgA S&P 500 index fund.
The current asset allocation is 65% equity and 35% fixed income. Asset Consulting Group is assisting.