Updated with correction
Oklahoma Police Pension & Retirement System, Oklahoma City, committed $7.5 million to CenterOak Equity Fund I, a lower middle-market buyout fund, said Steven Snyder, executive director and chief investment officer.
It is the $2.3 billion pension fund's first commitment to a CenterOak Partners fund.
Separately, the pension fund returned a net 3.38% for the fiscal year ended June 30, exceeding its policy return of 0.65% but falling short of its 7.5% assumed rate of return.
Overall equity was the top performing portfolio, with 5.98%, followed by real assets at 3.53% and total fixed income, -0.42%.
As of June 30, the target allocation was 60% total equity, 25% fixed income and 15% real assets.
For the three, five and 10 years ended June 30, the pension fund returned an annualized 10.12%, 9.65% and 6.44%, respectively, vs. its benchmark returns of 9.54%, 10.92% and 6.12%.
