University of Oklahoma Foundation, Norman, hired Pzena Investment Management to run $53 million in active domestic large-cap value equities, confirmed Ron Burton, president and CEO. The $815 million foundation terminated MacKay Shields, which ran the money in a similar style, due to performance and personnel issues. Rene Bustamante, MacKay Shields chief compliance officer, was not available for comment at press time.
An RFP was issued last year, Mr. Burton said. Ellwood Associates assisted.