Oklahoma Police Pension & Retirement System, Oklahoma City, committed $20 million total to three alternatives managers, said Steven Snyder, executive director and chief investment officer.
The $2 billion pension plan committed $7.5 million each to Oaktree European Dislocation Fund, a middle-market lending fund managed by Oaktree Capital Management, and Apollo Investment Fund VIII, a private equity fund managed by Apollo Global Management. It also committed $5 million to FirstMark Capital Fund III, an early stage, technology-focused venture capital fund.
It is the pension fund's first commitment to Apollo. The plan invested in nine previous Oaktree funds and the two previous FirstMark funds, Mr. Snyder said.
Investment consultant Asset Consulting Group assisted.
Separately, the pension plan named Apex Capital Management, Cortina Asset Management and Loomis Sayles as finalists in its search for an active domestic smidcap equity manager. Incumbent manager William Blair, which runs about $103 million in the strategy, did not rebid, Mr. Snyder said.
A decision is expected in November. However, the portfolio likely will be cut in half as the pension plan has 11.9% now allocated to smidcap equity with just a 5% target allocation, Mr. Snyder said.
