Oklahoma Police Pension & Retirement System, Oklahoma City, is searching for an active domestic smidcap growth equity manager to run about $93 million, said Steven Snyder, executive director and chief investment officer of the $2 billion pension fund.
William Blair & Co. currently manages the assets in a small-cap portfolio and is invited to rebid. Mr. Snyder said there have not been performance issues and that investment consultant Asset Consulting Group recommended issuing an RFP to see what other strategies are available.
The RFP is available on the pension fund's website. Proposals are due Sept. 16. A hiring decision is expected in December.
Separately, the pension plan allocated an additional $3 million each to five hedge fund investments:
- Hoplite Offshore Fund, global long/short equity managed by Hoplite Capital Management;
- Southpoint Capital Advisors, global long/short equity;
- White Elm Capital Offshore, global long/short equity;
- Tremblant Concentrated Fund, long/short equity managed by Tremblant Capital Group; and
- Trian Partners, activist
The pension fund has now invested $10.5 million in each of the five hedge funds. Funding comes from cash.