Oklahoma Police Pension & Retirement System, Oklahoma City, committed a total of $50 million to three alternatives managers, said Steven Snyder, executive director and chief investment officer.
The $2.2 billion pension fund committed $30 million to Blackstone Property Partners, an open-end core-plus real estate fund managed by Blackstone Real Estate Advisors and $10 million to Siguler Guff Distressed Real Estate Opportunities Fund II, a real estate fund of funds managed by Siguler Guff & Co. The allocations will fit into the pension fund’s opportunistic real estate portfolio, which has a 5% target allocation.
Separately, the pension fund committed $10 million to Francisco Partners IV, a private equity fund. The pension fund has a 10% target allocation to private equity.
Additionally, due diligence is being conducted on three to five hedge fund managers. A hiring decision is expected in December.