Oklahoma Police Pension & Retirement System, Oklahoma City, hired Martingale Asset Management to run between $70 million and $80 million in active domestic small-cap growth equities, said Steve Snyder, deputy director. The firm will replace CapitalWorks Investment Partners, which ran $51 million and had been on watch for performance for roughly a year. Officials of the $1.4 billion plan also wanted a small-cap growth manager that can add some midcap components, which CapitalWorks could not do. Alex Camet, client services and marketing representative for CapitalWorks, did not return a call by press time seeking comment.
The additional funding will come from trimming a $225 million Russell 1000 Growth index fund managed by Mellon Capital.
The pension fund issued an RFP in the second quarter. Asset Consulting Group assisted.