Oklahoma Police Pension & Retirement System, Oklahoma City, terminated hedge-fund-of-funds manager Attalus Capital, which ran $73 million, because of personnel changes, confirmed Steven Snyder, executive director and chief investment officer of the $1.8 billion retirement system.
Subsequently, the board elected to terminate an RFP for a long/short equity hedge fund manager. The retirement system will reissue the RFP when the Attalus redemption is completed, which could extend to the first quarter of 2013, Mr. Snyder said in a telephone interview. The RFP had been issued in November.
When the search is reissued, it could target direct hedge fund investments or funds of funds, he added.
Separately, the board reported the retirement system returned 6.7% in the first quarter. Among the retirement system's broad asset classes, equity returned 8.8%; global bonds, 2.8%; and real assets, 4.9%.
The pension fund returned 3.2% for the year ended March 31 and 2.1% for the nine months ended March 31.
