Oklahoma Teachers Retirement System, Oklahoma City, will issue an RFP next week for a private equity fund-of-funds manager, confirmed Joe Ezzell, assistant executive secretary of the $7.3 billion system.
The RFP will be available on the retirement systems website at http://www.ok.gov/TRS.
The selected manager would replace Aldus Equity Partners, which was terminated in mid-May after the firm was charged with participating in an alleged pay-to-play scheme involving investments in the $109.9 billion New York State Common Retirement Fund, Albany.
Mr. Ezzell could not say how much the manager would run. The system had committed $100 million to Aldus, of which about $12 million had been called, when the firm was terminated.
Separately, the system also amended its investment policy to require investment managers associated with the system to disclose placement agents and third-party marketers.