Oklahoma Police Pension & Retirement System, Oklahoma City, terminated hedge fund manager AKO Capital, said Steven Snyder, executive director and chief investment officer.
The $2.2 billion pension fund had roughly $9.1 million invested in the long/short equity AKO Fund, which is being removed because of performance, Mr. Snyder said.
Funds will be transferred to new long/short equity managers in April or May, Mr. Snyder said. Due diligence is currently being conducted on several managers, which Mr. Snyder declined to name.
An official at AKO Capital could not be reached for comment by press time.