Arlington County (Va.) Employees Retirement System hired Oaktree Capital Management for a $75 million domestic convertible bond portfolio, said Greg Samay, executive director and CIO of the $1.4 billion system. Funding comes from terminating incumbent Advent Capital Management. We believe Oaktree Capital has a better chance of beating the benchmarks, Mr. Samay said.
Edward Johnson, chief operating officer and principal of Advent, said the firm doesnt comment on client relationships.
Ashford Consulting Group conducted the invitation-only search.