Oklahoma City Employee Retirement System hired Gresham Investment Management as its first commodities manager, said Rena Hutton, pension manager.
Gresham will run $30 million in a long-biased commodities strategy.
The other finalists were Blackstone Alternative Asset Management and CoreCommodity Management.
Funding will most likely come from reducing a large-cap index fund managed by State Street Global Advisors, Ms. Hutton said.
The $626 million pension fund's target asset allocation to commodities is 5%.
