Oklahoma Municipal Retirement Fund, Oklahoma City, hired GW Capital to manage about $30 million in active domestic smidcap value equity, confirmed an official at the pension plan who did not want to be named.
Funding comes from the termination of EARNEST Partners, which managed the assets in a similar strategy for the $391 million pension fund. EARNEST was terminated for performance and style issues, the pension fund official said.
Shirley Zhang, institutional sales at EARNEST, did not return a telephone call by press time for comment.
Investment consultant Asset Consulting Group assisted with the shortlist search.