Oklahoma Police Pension & Retirement System, Oklahoma City, issued an RFP for a commodities manager to run between $60 million and $70 million, said Steven Snyder, executive director and chief investment officer.
The $2.1 billion pension fund is searching for a long-only commodities manager as part of its effort to reaching its 15% real assets target, which includes 5% to commodities.
The pension fund has a current 6.5% real assets allocation, which includes 1.2% to commodities.
Funding will come from a $430 million small-cap growth equity index fund managed by Mellon Capital Management.
Proposals are due at 4 p.m. CDT on April 16. Finalist presentations are scheduled for June 18, with a contract start date of Aug. 1.
The RFP is available on the retirement system's website.
Investment consultant Asset Consulting Group is assisting.