Oklahoma Firefighters Pension and Retirement System, Oklahoma City, will issue an RFP in the next few days for an active international equity manager to run a $120 million EAFE portfolio, said Bob Jones, director of the $1.9 billion system.
Oppenheimer Capital now runs the portfolio and can rebid. The system is conducting the search because Elisa Mazen, the portfolio manager overseeing its fund, left the company (See P&I Daily, July 30). Theres no criticism of Oppenheimer historically, Mr. Jones said.
The RFP will be available on the systems website at http://www.ok.gov/fprs/RFP/index.html.
Separately, the system hired Brandywine to run a $100 million active global core fixed-income portfolio. Funding comes from reducing SSgAs passive bond mandate, which is split roughly 60/40 between funds indexed to the Lehman Brothers Aggregate and Intermediate indexes, respectively. SSgA will run $275 million after the reduction.
Brandywine, hired for diversification, is the first active bond manager at the system in the past three years.