Oklahoma Tobacco Settlement Endowment Trust, Oklahoma City, hired Invesco to run $60 million in an active domestic high-yield portfolio, said Lisa Murray, chief investment officer at the Oklahoma state treasurer’s office, which oversees the trust.
The $943 million fund issued an RFP in July following the termination of Post Advisory Group, which ran a similar portfolio, because of personnel changes at the firm.
MacKay Shields was the other finalist.
Investment consultant NEPC assisted.
Separately, the endowment trust made additional commitments of $15 million each to AEW Partners Fund VII and Distressed Real Estate Opportunities Fund II, value-added real estate funds managed by AEW Capital Management and Siguler Guff & Co., respectively.