Oklahoma Firefighters Pension & Retirement System, Oklahoma City, plans to issue an RFP this week for a domestic large-cap value equity manager to run about $75 million, said Troy Brown, director of consulting at The Bogdahn Group, investment consultant to the $2.3 billion pension fund.
Active managers are being targeted, Mr. Brown said in an e-mail.
Funding will come from Herndon Capital Management, which ran $75 million in a similar strategy and was terminated in August over its decision to maintain an overweight to energy, with which the pension fund disagreed. A Herndon spokeswoman declined to comment.
The RFP is expected to be available Wednesday on the pension fund's website. Proposals are due Oct. 28. Finalist interviews could take place in December, with a hiring decision some time after.