Oklahoma Police Pension & Retirement System, Oklahoma City, will search for a long/short equity hedge fund manager to run between $80 million and $90 million, confirmed Steven Snyder, executive director and chief investment officer.
The $1.8 billion system will issue an RFP before the end of the month, Mr. Snyder said in a telephone interview. The funding source is a manager termination due to personnel changes. Mr. Snyder would not reveal the name of the manager because the firm hasn't been notified. A decision is expected sometime in the first quarter of 2012.
Separately, the system named Baring Asset Management, Harding Loevner and Pictet Asset Management as finalists to run between $80 million and $90 million in active international growth equities. The system's board will interview the finalists and make a selection at its Dec. 21 meeting.
An RFP was issued in July.
General consultant Asset Consulting Group is assisting.