Oklahoma Law Enforcement Retirement System, Oklahoma City, is searching for an opportunistic global fixed-income manager to run $65 million to $75 million, confirmed Ginger Poplin, executive director.
This will be the $700 million fund's first global fixed-income investment. The assets could be split between two managers.
The system recently split its 30% overall fixed-income allocation to 10% each core bonds, core-plus bonds and global bonds, Ms. Poplin said in an e-mail. Funding will come from rebalancing. Northern Trust Global Investments managed $96 million in an indexed bond portfolio and TCW Asset Management managed about $124 million in active domestic fixed income as of Sept. 30.
Investment consultant Asset Consulting Group is assisting.
The RFP is available on the system's website. Proposals are due at 4 p.m. CDT Aug. 24. A decision is expected by the end of the year.