Oklahoma Firefighters Pension and Retirement System, Oklahoma City, hired WCM Investment Management and Chautauqua Capital Management to run active international equity mandates and ClariVest Asset Management and Wasatch Advisors to manage active emerging markets equity mandates, confirmed Robert Jones, executive director of the $1.7 billion retirement system.
The sizes of the portfolios have not been decided yet, Mr. Jones said, although ClariVest will receive 70% of the emerging markets mandate. The retirement system is increasing its international equity allocation to 12.5% from 10%, including the first investments in emerging markets equity.
Asset Consulting Group assisted.
Mr. Jones said funding will come from terminating the approximately $100 million international equity portfolio managed by Artio Global Investors and reducing the domestic large-cap equity portfolio and the Thornburg Investment Management international equity strategy, Mr. Jones said.
Neil Shapiro, Artio Global spokesman, declined to comment on the termination.
The pension fund issued RFPs in January for active international and emerging markets equity managers to run $50 million to $70 million each.